Energy

Ireland needs an ‘offshore wind IDA’ to attract foreign energy firms, Cork Chamber says

Two of the largest energy developers in the world have left the market in the last 18 months as concerns have grown about the lack of policy focus

Conor Healy, chief executive, Cork Chamber of Commerce: ‘There needs to be a greater focus on winning international investment in renewable energy’

Ireland needs a dedicated semi-state agency to attract energy multinationals to develop an offshore wind industry here, the head of Cork Chamber has said.

Conor Healy, the chamber’s chief executive, said it was concerning to see both Shell and Equinor, two of the largest energy developers in the world, leave the Irish market in the past year.

“We have an incredible opportunity in Ireland to benefit from the enormous growth that’s coming in renewable energy, but we won’t benefit from that without significant policy focus. At the moment, I don’t believe it’s clear who is responsible for winning outside investment in the renewables sector,” Healy told the Business Post.