Irish utility ESB has unveiled plans for a multi-billion euro project to transform its Moneypoint coal plant in County Clare into a major new green energy hub including 1400MW of floating offshore wind.
The project, which ESB is calling ‘Green Atlantic @ Moneypoint’, will be developed in partnership with Equinor.
ESB said the development is expected to be in production within the next decade, subject to the appropriate consents being granted.
The developers have already begun preparations to connect the wind farm to the grid, and will break ground on a new €50m sustainable system support facility in the coming weeks.
ESB said the synchronous compensator that this will be housed in the facility is expected to be the largest of its kind in the world.
Moneypoint will also become a centre for the construction and assembly of offshore wind turbines, utilising a deep-water port that already exists at the site, the company added.
ESB has also pledged to invest in green hydrogen production, storage and generation at the site towards the end of the decade.
ESB chief executive Pat O’Doherty said: “ESB’s Brighter Future strategy is anchored in our ambition to lead the transition to a low-carbon energy future, powered by clean electricity.
“The transformation of Moneypoint into a green energy hub will be a major step in achieving this and will bring huge benefits to the Mid-West and beyond.
“We have long signaled our intention to cease burning coal at Moneypoint.
“Today we are unveiling plans for a reimagined Moneypoint, which will not only create hundreds of jobs, but will also help Ireland to meet its climate targets and maintain secure supplies of electricity into the future.”
ESB executive director of generation and trading Jim Dollard said: “Today’s announcement is a significant milestone in ESB’s low-carbon journey, cementing our commitment to transforming our generation portfolio and ongoing investment in renewable energy technologies.
“Moneypoint has played a critical role in the country’s energy supply for almost 40 years.
“We are proud that it will continue to have a crucial role in Ireland’s energy future with many benefits for the local community and wider society.”