Business

Source Galileo signs Rosslare agreement

Renewables company to work with Iarnród Éireann on developing port

Kevin Lynch, chief executive, Source Galileo, which has signed a memo of understanding with Rosslare Europort. Photograph: Alan Betson/The Irish Times

Barry O'Halloran
Mon Apr 22 2024 - 17:42

Renewable energy specialist Source Galileo plans to work with State company Iarnród Éireann to develop Rosslare Europort in Co Wexford as a centre to support offshore wind development.

Source Galileo is working on large-scale offshore wind, battery, solar and hydrogen projects in Europe, and hopes to target projects in the Republic.

The company said on Monday that it has signed a memorandum of understanding with rail transport group, Iarnród Éireann, to develop Rosslare to facilitate the development of wind farms in Irish coastal waters.

Iarnród Éireann, Rosslare’s Port Authority, is currently working on a plan to redevelop the port for offshore wind farm construction, operation and maintenance, a move likely to create 2,000 jobs.

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Rosslare is located within 60 to 100 nautical miles of planned offshore electricity projects in the Irish and Celtic seas.

The port will need a purpose-built quay and berths, storage and to dredge a new navigation channel to support offshore wind farm development.

Source Galileo’s plans include the Mac Lir project, a wind farm 22km off the coasts of Wicklow and Wexford that the company says could generate enough electricity to supply more than 600,000 homes.

Its backers include Ingka Investments, part of the group behind multinational furniture retail chain, Ikea.

Kevin Lynch, Source Galileo’s chief executive, said it looked forward to working with Iarnród Éireann to develop projects that would aid the Government in reaching its offshore energy targets.

Glen Carr, director commercial business units, Iarnród Éireann, Port Authority Rosslare Europort, said the two companies’ shared views on the potential of Irish offshore energy.

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Barry O'Halloran

Barry O'Halloran

Barry O’Halloran covers energy, construction, insolvency, and gaming and betting, among other areas

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