Ireland’s offshore wind industry has received a significant boost with the provisional results of the State’s second offshore wind auction under the Offshore Renewable Electricity Support Scheme (ORESS).

The Tonn Nua auction, held for a site off the Waterford coast, has secured a highly competitive price of €98.719 per megawatt hour. The winning applicant is Helvick Head Offshore Wind DAC, a joint venture between ESB and Danish developer Ørsted. The project will deliver 900 megawatts of clean energy, enough to power almost one million homes, while saving 1.8 million tonnes of CO2 emissions annually.

Minister for Climate, Energy and the Environment Darragh O’Brien described the outcome as a milestone moment. “The highly competitive price secured represents positive news for Irish energy consumers and our nation, bringing us closer to overcoming the challenges of energy security and affordability, and towards achieving energy independence,” he said.

The auction was the first to be held under the South Coast Designated Maritime Area Plan (SC-DMAP), approved by the Oireachtas last year following extensive environmental assessment and consultation with coastal communities. The plan identifies four maritime sites for offshore wind development, with a total capacity of about 5GW.

The project will also deliver significant local benefits. A community fund worth €140 million over 20 years will support clubs, groups and projects in coastal communities near the development.

The results remain provisional and subject to confirmation, with final outcomes due on December 9. The Government will now move to auction the remaining three SC-DMAP sites, working with EirGrid to develop grid connection options.

Independent analysis has highlighted that implementing the SC-DMAP could deliver inward investment of €4.4 billion and an estimated 49,000 full-time equivalent years of employment, with more than 65 per cent of benefits expected to be captured by the south coast region.