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Limerick's Shannon Foynes Port Company signs memorandum with world industry leader

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THE SHANNON Foynes Port Company has signed a memorandum of understanding with a Norwegian firm considered to be one of the world’s leaders in offshore wind generation.

The deal has been signed with the Norwegian Offshore Wind cluster, which is aiming to be the strongest supply chain for floating offshore wind world wide. The memorandum will enable collaboration between the Shannon Foynes Port Company and offshore interests in Norway providing a framework for further collaboration on market activities towards both the Irish and Norwegian offshore wind market.

On top of this, the agreement provides a platform for research, development and innovation activities for Irish and Norwegian companies.

Norway is already a world leader in offshore wind and its government earlier this month launched a large-scale investment plan aimed at allocating sea areas to develop 30 GW of offshore wind capacity by 2040.

Port company chief Pat Keating said the deal will allow Ireland to become an international energy hub for the first time.

Norway is a world leader in the development of floating wind and it’s this very technology that will enable Ireland to not alone meet its longer term climate change targets but become an international energy hub for the first time in our history. The Shannon Estuary will be a key enabler of that because of its proximity to offshore winds and its deep waters, which are essential for supply chain. 

“Ireland’s potential from floating offshore wind generation off the West coast alone stands at 70 gigawatts, which is 12 times our current installed wind capacity on land. So what we now need to do is to realise that opportunity and being able to partner with global leaders like Norway will be a key enabler of that. Norwegian Offshore Wind’s partnership with us on this memorandum reflects just how big that opportunity is and we look forward to working closely with them to progress this mutually beneficial relationship," he said.