In partnership with the European Investment Bank (EIB), Ireland has committed to a strategic upgrade of its port infrastructure to support the development of offshore wind. This partnership defines investment needs and develops suitable financing strategies to transform Irish ports into hubs capable of handling large-scale energy projects. The initiative is part of the country's goals to achieve 80% of electricity generation from renewable sources by 2030.

Assessment of current port infrastructure

Currently, no port in Ireland is fully equipped to support the complex logistical needs of offshore wind farms. The ports identified for these developments, selected for their unique characteristics in terms of location and operational capacity, need to be optimized to minimize the cost of installing and maintaining wind turbines. Partnership with EIB will help assess existing infrastructure and prioritize required investments.

Financial strategies for optimized development

The EIB and the Irish Department of Transport are working together to identify the most suitable sources of funding. The options considered are public, private or a combination of both, aimed at securing capital while ensuring long-term profitability of port projects. This approach will not only support the development of offshore wind, but also strengthen the attractiveness of Irish ports for other offshore projects.

Regional economic development and investor attractiveness

Investment in port infrastructure covers not only the technical capacity of the facilities but also the economic development of the surrounding areas. Port improvements can boost local economic activity by creating jobs and building skills. For investors, Ireland is attractive thanks to its vast offshore potential and favorable environment for renewable energy.

Ability to meet national energy targets

Ireland aims to have 5 GW of offshore wind capacity by 2030 and up to 37 GW in the longer term. Port modernization is essential to achieve these goals. Each port will play a specific role, be it construction, maintenance or logistics. The Government and the EIB hope that the lessons learned from these initial investments will serve as a model for other similar infrastructure across Europe.

Pan-European perspectives and experiences from the EIB

The EIB's experience in financing infrastructure across Europe, including rail and renewable energy, will be leveraged to boost the efficiency of port investments in Ireland. This expertise is critical to ensuring the competitiveness of the Irish energy sector on the European stage as well as establishing a stable investment framework and attracting capital at scale.