sur Ãrsted A/S (isin : DK0060094928)
Ørsted and ESB Secure Development Rights for Tonn Nua Offshore Wind Project
The joint venture between Ørsted and ESB has been provisionally granted rights to develop the Tonn Nua offshore wind site in County Waterford, Ireland. This move follows an auction held under the Offshore Renewable Electricity Support Scheme (ORESS), marking Ireland's second offshore wind auction. The Tonn Nua project covers 306 km² and aims to establish a 900 MW fixed-bottom offshore wind farm.
The site's development will benefit from a partially indexed 20-year contract for difference (CfD), facilitating seabed lease and grid connection. The project remains in early stages, with the final investment decision anticipated by 2031 and energy production expected in the mid-2030s. Ørsted and ESB will now seek necessary consents to advance the development process.
This initiative is a key step towards Ireland’s renewable energy goals, enhancing energy security and price stability. The transmission infrastructure will be managed by EirGrid, ensuring operational readiness by 2037.
R. P.
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