The UK and Ireland have signed a memorandum of understanding (MoU) to support offshore renewable energy and increase interconnectivity.
Under the MoU dubbed ‘Cooperation in the Energy Transition, Offshore Renewables and Electricity Interconnection’, both countries will increase cooperation for developing offshore renewable energy, explore further electricity interconnection opportunities and enhance security of gas supplies.
Several sectors could be set to benefit from the MoU. This notably includes offshore renewable generation, including floating offshore wind in the Celtic and Irish Seas, as well as interconnection and offshore hybrid assets.
The Irish government said that the agreement will also facilitate “increased information-sharing between Ireland and the UK on the transition to renewable energy and deployment of onshore and offshore renewable energy, including renewable and low-carbon hydrogen”.
UK Energy Security Secretary Claire Coutinho said: “As two nations committed to boosting energy resilience and reaching net zero, today marks a historic moment for the UK and Ireland, as we work more closely together to achieve our shared energy goals.
“The UK continues to lead the world on energy security and reaching net zero, accelerating our deployment of renewables and homegrown supplies of energy, while working in collaboration with international partners to tackle climate change.
“These landmark agreements will see us deepen our energy partnership with Ireland, to deliver cheaper, cleaner and more secure energy to our homes and businesses, and grow our economies.”
Eamon Ryan, Irish minister for Transport, Climate, Environment and Communications, said: “Increased levels of cooperation regarding offshore renewable energy, offshore grids and enhanced interconnection is both productive and timely for Ireland because the UK’s status as the global leader in the development of offshore renewable energy, and Ireland’s considerable offshore renewable resource.
“The UK is Ireland’s closest and one of our most important energy partners. Ireland will therefore benefit significantly from plans to explore the development of further interconnection between our all-island electricity market and Great Britain. This highlights the benefits of enhanced interconnection, which include increased security of supply, improved wholesale market competition and the possibility to export surplus renewable electricity during times of oversupply.”
Increased interconnectivity could be crucial for both the UK and Ireland’s security of energy supply – particularly as we transition away from fossil fuels. Indeed, the Celtic and Irish Seas hold masses of potential for the deployment of offshore wind farms.
This potential has been recognised by the Irish government with it announcing earlier this year it had awarded over 3GW in the country’s first Offshore Renewable Electricity Support Scheme (ORESS-1) auction. The results were dubbed a “breakthrough moment for Ireland’s offshore wind future” by the Irish government.
It is important to note that Ireland’s renewable potential has also seen a surge in interconnectivity plans for the island nation. The Irish government stated that “Ireland’s interconnection capacity currently stands at 500MW via a single connection to the UK market. Capacity is set to more than treble by 2027, to 1.7GW, which will include a return of direct interconnection between Ireland and the EU via the Celtic Interconnector”.
Current± publisher Solar Media is hosting the third edition of its Wind Power Finance & Investment Summit Europe in London this 19-20 September. The conference will focus on investment strategies, alleviating bottlenecks, and which countries and technologies are the most exciting ahead as the industry sets to expand to help reach 2030 targets.
Packed with industry leaders representing financiers, investors, developers, government departments and more this is the leading conference for decision makers in the European wind industry. More information, including how to attend, can be read here.
