Ireland has the potential to become the focal point of the international marine renewable energy sector, which could be worth up to €9 billion by 2030, said Minister for Communications, Energy and Natural Resources Alex White.
Mr White said the marine renewable energy sector can support job creation in Ireland over the coming decade. He revealed that his department’s support for research in ocean renewable is set to increase by nearly €17 million between 2013 and 2016, bringing it to more than €26 million.
Mr White made his comments while attending a function at the National Maritime College of Ireland in Ringaskiddy, Co Cork. There he announced details of €4.2 million secured from EU research funds for the Science Foundation Ireland Centre for Marine Renewable Energy Ireland.
Mr White commended the centre for “securing substantial EU support to fund their very important research and development work. It is truly laying the foundations for both the energy system and the economic opportunity of the future.”
