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ARTICLE · 18 OCTOBER 2021

Latest On Offshore Wind In Ireland: Support Scheme And Grid Connection Consultations

Arthur Cox
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Several elements of the framework needed to construct and finance Ireland's offshore renewable energy infrastructure are being progressed in tandem.

IrelandEnergy and Natural Resources
Arthur Cox
Arthur Cox
Karen Killoran
Karen Killoran
Danielle Conaghan
Danielle Conaghan
Jacinta Conway
Jacinta Conway
James Downey
James Downey
Dearbhaile O’Brien
Dearbhaile O’Brien
Katrina Donnelly
Katrina Donnelly
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Several elements of the framework needed to construct and finance Ireland's offshore renewable energy infrastructure are being progressed in tandem. We look at the latest developments concerning route to market and grid connection.

First Auction to Support Offshore Wind: Renewable Electricity Support Scheme (ORESS 1)

The Department of Environment, Climate and Communications invites views by 6 December 2021 on draft Terms and Conditions for ORESS 1. ORESS 1 envisages a support period from earliest 1 January 2026 to no later than 30 June 2042 (14 up to 16.5 years depending on the Commercial Operation Date of the project).

As with RESS, electricity suppliers with Power Purchase Agreements ("PPAs") offtaking from successful projects would be entitled to Support Payments to the extent the Market Reference Price above zero is lower than the Strike Price (the price the project bid into the auction); and they would have to make Difference Payments to the extent Strike

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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