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 constructing the wind farm. It is expected that this will generate a significant number of direct jobs in the Mid-West region. In the longer term, the development of Moneypoint will support the broader 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.
Transforming a fossil fuel site into a green energy hub
In line with the Irish Government’s ambition of reaching net-zero emissions by 2050, ESB announced Green Atlantic @ Moneypoint in April 2021. Under the pioneering programme, ESB’s Moneypoint site on the west coast of Ireland will be transformed from a primarily coal-burning plant into a renewable energy hub, helping Ireland to become a leader in green energy production.
ESB has set an ambitious and bold course of action to help Ireland achieve climate action targets and transition the country to reliable, affordable, low-carbon energy. Green Atlantic @ Moneypoint is a multi-billion Euro programme with significant investment on the site over the next decade and will have the capacity to power 1.6 million homes.
ESB has already begun transforming Moneypoint into a green energy hub, with the construction of a new €50m Sustainable System Support facility. 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 thermal fired power stations would have previously supplied. 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.
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.