The project will be a 50:50 joint venture between the two companies.
Known as Saoirse and developed by Simply Blue Group, the wave energy demonstration project aims to prove the viability of wave energy in Irish seas. Subject to the necessary consents and a grid connection, the project is on target to be completed by the mid to late 2020s.
Wave energy projects complement wind energy and will help to deliver a more predictable and stable portfolio of renewables. It is estimated that Ireland has up to 18GW of wave resource off its west coast.
The chosen technology for deployment is CorPower Ocean's Wave Energy Converter (WEC). CorPower Ocean are developers of high-efficiency WECs, enabling reliable and cost-effective harvesting of electricity from ocean waves. The first full-scale demonstration of the CorPower Ocean technology is currently taking place in Portugal.
-- Advertisement --
Sam Roch Perks, Group CEO, Simply Blue Group, said: "We have been developing Saoirse as a concept for several years and to enter this joint venture with ESB means we can take this project forward at the pace it requires. We have worked very closely with the wave energy sector to find the correct technology and believe the CorPower device represents the best-suited technology to build this exciting project – which will be a world first in wave energy and help Ireland recognise its potential in wave power."
Jim Dollard, ESB Executive Director, Generation & Trading, said: "ESB is delighted to be a part of this exciting announcement on innovative wave energy conversion technology. ESB amassed significant expertise in wave energy through our WestWave project up to 2016 and we welcome the opportunity to pool these learnings with Simply Blue Group. While the technologies in wave energy conversion are still at an early stage, projects such as the Saoirse initiative are a major step towards providing utility-scale generation from our oceans."
