Energy

Climate targets set to be blown off course as turbine costs soar

Rising development inflation and planning delays put half the country’s offshore wind pipeline in jeopardy

The government has set a target to have 5,000 MW of offshore wind capacity installed by 2030.

Ireland’s chances of meeting its 2030 climate targets are becoming more remote as industry experts warned a surge in development costs combined with planning delays have put half the country’s offshore wind pipeline in jeopardy.

Senior executives from major energy companies including Statkraft, RWE Renewables, Ørsted and BP told the Business Post the offshore wind sector was in a “depressed“ state after the cost of new turbines and other components soared by up to 40 ...