Energy giant to invest €2bn in offshore wind farm
Energy giant SSE plans to spend as much as €2bn to expand its small Arklow Bank offshore wind farm into a major endeavour, which it says will have the ability to power half a million homes when usable wind energy is being generated.
Arklow Bank - located off the Wicklow coast - is Ireland's only operating offshore wind farm with just seven turbines in operation.
Offshore wind has become more economic in recent years with the cost of capital equipment coming down, and a mechanism to subsidise it has been included in the Government's new renewable electricity support scheme.
SSE is planning to expand it significantly.
The company has a lease that provides consent for as many as 200 turbines - but said that advances in turbine technology mean the maximum installed electricity capacity can be achieved with around half that.