Socio-economic research on the potential benefits of the 800MW Arklow Bank Wind Park 2 estimates an economic benefit to the Irish economy of up to €800m during the project’s lifetime.
Of this over €500m could directly benefit counties Wicklow and Wexford.
The preliminary data is contained in an independent report commissioned by SSE Renewables, due to be published in the new year.
The study, compiled by BiGGAR Economics to support the project’s ongoing development ahead of submission to An Bord Pleanala, details the national and regional benefits the proposed wind project off the coast of South Wicklow would create.
The final report will be published in the coming months to coincide with the submission by SSE Renewables of a planning application to An Bord Pleanala for the project’s associated offshore infrastructure.
The research has found that approximately 2300 direct and induced jobs would be created throughout the project’s lifetime, from development and construction through to operations and decommissioning.
Upon commencement of commercial operations, Arklow Bank Wind Park 2 would create around 130 jobs, direct and induced, over its expected 35-year operational lifetime.
Additionally, the wind farm would generate an economic contribution to the Irish economy of up to €19m annually, up to €13m of which would benefit the Wicklow and Wexford economies.
Overall, it is estimated Arklow Bank Wind Park 2 could generate a total lifetime spend across national and international markets in excess of €4.8bn, from early-stage development and construction through to 35 years of expected operations, and eventual decommissioning.
Speaking at the Enterprise Ireland Offshore Forum at Croke Park today, Arklow Bank Wind Park 2 project director James O’Hara said: “I am delighted to share the key findings of this new socio-economic impact report today.
“The benefits that large scale offshore wind projects can bring to local and regional economies are well documented, but it is invaluable to have current data on the potential economic value of Arklow Bank Wind Park 2 project to the regional economy.
“The renewables industry already plays an important role in supporting rural and regional economies around the country, but as we look towards the development of the offshore wind industry in Ireland, the possible economic benefits could be transformative.
“The data we’re publishing today on the Arklow project demonstrates that offshore wind infrastructure can play an important role in supporting job creation and delivering more balanced regional development.”
Final delivery of the site is subject to the project receiving planning consent for the offshore infrastructure, securing a route to market, and a final investment decision.
Should the scheme be delivered, SSE Renewables intends to administer a multi-million-Euro Community Benefit Fund throughout the development’s operational lifetime.