ESB Announces ‘Green Atlantic’ project at Moneypoint
In line with the Government’s ambition of reaching net zero emissions by 2050, ESB has recently announced Green Atlantic @ Moneypoint. Under the ambitious programme, ESB’s Moneypoint site in County Clare will be transformed into a green energy hub, helping Ireland to become a leader in green energy production.
Green Atlantic @ Moneypoint is a multi-billion Euro programme of significant investments on the site over the next decade resulting in hundreds of jobs, including;
- Renewable enablement: ESB has already commenced work on transforming Moneypoint into a green energy hub, breaking ground on a new €50m Sustainable System Support facility in the coming weeks – this Synchronous Compensator will be the largest of its kind in the world. This new plant will provide a range of electrical services to the electricity grid which would previously have been supplied by thermal fired power stations. Its operation will enable higher volumes of renewables on the system.
- Moneypoint Floating Offshore wind farm: A floating offshore wind farm of 1,400MW will be developed off the coast of Counties Clare and Kerry in two phases by ESB and joint venture partners, Equinor – a world leader in floating offshore wind technology. Once complete, the wind farm will be capable of powering more than 1.6m homes in Ireland. Subject to the appropriate consents being granted, the wind farm is expected to be in production within the next decade.
- A wind turbine construction hub: Moneypoint will become a centre for the construction and assembly of floating wind turbines. A deep-water port already exists at the site, making it an ideal staging ground for the construction of the wind farm. It is expected this will generate a significant number of direct jobs in the Mid-West region. In the longer term, the development of Moneypoint will support wider plans of Shannon Foynes port, and working with local stakeholders, help make the Shannon Estuary a focal point for the offshore wind industry in Europe.
- Hydrogen Energy: ESB’s plans include investment in a green hydrogen production, storage and generation facility at Moneypoint towards the end of the decade. A clean, zero-carbon fuel, green hydrogen will be produced from renewable energy and used for power generation, heavy goods vehicles in the transport sector and to help decarbonise a wide range of industries such as pharmaceuticals, electronics and cement manufacturing.
Pat O’Doherty, ESB Chief Executive, 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.”
Green Atlantic @ Moneypoint is a key part of ESB’s Brighter Future strategy and will contribute significantly to achieving the Government’s target of a 51% reduction in emissions by 2030.
Jim Dollard, ESB Executive Director, Generation and Trading, 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.”