Limerick Chamber calls for Aggressive Investment in Offshore Renewable Energy in Light of Energy Security Review

Government must aggressively invest in the development of offshore renewable energy to ensure Ireland’s energy security in the long-term. However, in the short and medium-term, Limerick Chamber would encourage the Government to seriously look at the potential positive impact liquified natural gas could play in Ireland’s energy security and diversity.

Limerick Chamber’s submission to the Review of the security of energy supply of Ireland’s electricity and natural gas systems, was carried out in consultation with Limerick Chamber members and highlighted several key issues for energy security going forward.

“There are four key areas the country must invest in if we are to see Ireland fully utilise the wind energy power available off the west coast; they are the regulatory and planning environment, the appropriate skills, grid infrastructure to transport electricity and appropriate industrial and manufacturing policy. These items cannot be advanced in isolation but must form part of a wider offshore renewable energy strategy for Ireland. We need to begin to send positive signals to investors that Ireland is serious about inward investment for renewables. This will go a long way in providing secure and stable energy into the future” said Dee Ryan, CEO of Limerick Chamber.

“Renewables have a large part to play in our future, but there is a gap in the interim that needs to be addressed as a matter of urgency. Businesses are currently very uncertain about their future, with energy concerns mostly contributing to this. For Ireland to remain competitive and attractive globally we need to ensure that we are secure from an energy point of view. Most of the mitigation measures included in the report will not be available before 2030 – we would encourage the Government to seriously examine the shorter-term measures for both diversity of supply and gas storage. If we want to fully utilise our offshore potential then we need to establish industrial and manufacturing clusters, these clusters will require stable energy as we transition to implementing cleaner energy sources” said Seán Golden, Chief Economist and Director of Policy with Limerick Chamber.

In its submission to the Department of the Environment, Climate and Communications, Limerick Chamber called for the Government to engage with energy providers with the view to creating a holistic strategy for energy in Ireland. The submission also asked the Government to consider Liquified Natural Gas and other short-term measures to shore up supply. The submission highlighted the potential for the Government to play a role in these ventures rather than wholly owned private enterprises.


Follow Limerick Chamber across LinkedIn, Twitter, Facebook and Instagram for key insights.

Share On.....