A forthcoming independent report commissioned by SSE Renewables suggests that the proposed 800MW Arklow Bank Wind Park 2 could inject up to €800 million into the Irish economy over its project lifespan. Counties Wicklow and Wexford stand to directly benefit from over €500 million of this potential windfall.
The study, conducted by BiGGAR Economics in support of the project's ongoing development, is set to be published in the coming months. This data, crucial for the submission to An Bord Pleanala, delineates both national and regional advantages emanating from the envisaged wind project off the coast of South Wicklow.
Preliminary findings indicate that the project, spanning development, construction, operations, and decommissioning, could create approximately 2300 direct and induced jobs. Once operational, Arklow Bank Wind Park 2 anticipates sustaining around 130 jobs throughout its expected 35-year lifespan.
Economically, the wind farm is projected to contribute up to €19 million annually to the Irish economy, with nearly €13 million earmarked for the Wicklow and Wexford regions. The overall estimated lifetime spend across national and international markets for the project is in excess of €4.8 billion, encompassing all stages from early development to decommissioning.
Speaking at the Enterprise Ireland Offshore Forum, Arklow Bank Wind Park 2 Project Director James O'Hara emphasized the potential transformative impact of offshore wind infrastructure on job creation and regional development. He underscored the renewables industry's vital role in bolstering rural and regional economies.
The final report, slated to coincide with SSE Renewables' planning application submission to An Bord Pleanala, awaits confirmation pending planning consent for offshore infrastructure, securing a route to market, and a final investment decision.
If the project comes to fruition, SSE Renewables intends to establish a multi-million-Euro Community Benefit Fund, ensuring ongoing support for the local community throughout the wind park's operational lifetime.
