Cork 2023: Winds of change favouring a city primed to lead from the front in green revolution

If demography is, as they say, destiny, then geography also matters a great deal.

Conor Healy, chief executive of Cork Chamber of Commerce, readily recognises that the next few decades are poised to be some of the most critical in transforming Cork into a sustainable European and global city.

Starting with geography, Cork’s position on the south coast, with a natural deep-water harbour, as well as a growing hub of talent and industries, is attracting world leaders in the renewable energy sector.

In fact, the Minister for Enterprise, Trade, and Employment, Simon Coveney, was at the Cork Chamber of Commerce at the end of May to announce a major partnership between ESB and Danish renewables giant Orsted.

This partnership represents a significant advancement in Ireland’s commitment to developing a thriving and robust offshore wind sector.

“Cork is emerging as a leading renewable energy hub, and this is a key moment in the development of the country’s offshore wind sector,” Healy said.

“It offers a huge opportunity to fully exploit Cork’s geographical position, enable greater energy security and independence, drive forward our climate targets, help Cork reach its goal of carbon neutrality by 2030 and boost our economy.”

As he points out, the multibillion euro deal has the potential to provide up to five gigawatts of renewable energy generated from the joint venture. Both ESB and Orsted, which has its Irish base in Cork, possess the skills, expertise, foresight and vision to achieve significant milestones.

“The recent tie-up is a significant leap forward in Ireland’s renewable energy story,” he added. But Healy knows that geography can only take a region so far.

There must be critical infrastructure and talent to support it. Despite the challenges facing Cork and other cities and regions across Ireland, Healy believes Cork is prepared to make significant progress.

According to the government’s National Development Plan, Cork city and county are on an upward trajectory. In fact, the population of Cork is projected to increase by 50-60 per cent by 2050.

“From a sentiment point of view, it’s really, really positive,” Healy said. “Pretty much across all the key sectors in Cork, whether it’s life sciences, tech, financial services, professional services, and more traditional indigenous industries such as tourism, retail, and the agri-food sector, they’re all performing very well.”

Even in the tech sector, which is undergoing a global reset, Healy says that Cork has weathered the storm. True to the Latin saying on its coat of arms, the city is proving to be a safe and prosperous harbour.

Earlier this year, Cork was voted the number one small European city for economic potential for the second consecutive year in the Financial Times European Cities and Regions of the Future awards.

The growing number of deals inked in Cork by leaders in the renewable energy sector, include the recent partnership between EDF and Cork-based blue economy developer Simply Blue to develop two floating wind projects along the Munster coast.

Healy compares current developments with how Cork became a hub for life science industries in the 1960s and 1970s. There is a thriving ecosystem enhancing Cork’s reputation with companies such as Statkraft and Amarenco choosing to base their headquarters in the region and service providers, including Green Rebel and Mainport, all working collaboratively and supported by Energy Cork and Cork Chamber.

Healy believes that Cork has the potential to attract and scale-up businesses in the renewable energy sector in the same way that helped it flourish more than a generation ago. Cork is fortunate to have key infrastructure already in place around the port. Additionally, it is the only port in the country with planning permission and foreshore licensing to facilitate the necessary development in the short to medium term.

However, Healy emphasises that establishing Cork as a renewable energy hub requires significant government support, particularly for organisations like the Port of Cork, to enable the sector’s growth in the years to come.

“All the national indicators point towards positive growth in the renewable sector, but I believe Cork will emerge as the leading renewable energy hub at the national level and has the potential to become an even more significant hub at the European level.”

According to Healy, talent is another key factor contributing to Cork’s success. The city is home to two universities, UCC and MTU, with a combined student population of nearly 40,000 across campuses in Cork and Kerry.

Healy mentioned that higher education institutions are actively working to ensure that graduates possess the skills required to meet the demands of employers, both now and in the future. However, continued government support for universities is crucial in order to effectively meet those demands.

While Cork has always been an appealing destination for multinational corporations, Healy also acknowledged the significant contributions made by our indigenous companies and the many small and medium-sized enterprises (SMEs) operating in the region.

They operate in a strong and thriving environment, and Cork Chamber is committed to supporting the diverse range of businesses in this sector, particularly through programmes like its Enterprise Europe Network.

The programme is run by a consortium with representatives in Enterprise Ireland, Dublin Chamber and the Local Enterprise Offices, who provide substantial support to SMEs in the region, such as business matching and crucial access to an international network.

Cork is also on the verge of a significant transformation in several key areas that will contribute to the city’s long-term sustainability. The National Transport Authority is currently in the consultation stage of implementing a €600 million BusConnects plan for the city.

Once the plans for the Docklands are fully realised, they will add thousands of new apartments and houses right at the city’s doorstep. There are positive plans afoot for improvements to the suburban rail service, including its electrification and even proposals for a light rail transport system similar to Dublin’s Luas.

“This is something we should not be saying we’ll have in 20 years. We need to have a much, much shorter time frame and we need the investment to back that up,” Healy said.

“I believe Cork is a major contributor to the national story. At an economic level, the national economy requires a strong and thriving second city region.”

With the foundations it has in place, Cork is more than ready to rise to the occasion.