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Ørsted and ESB Secure Rights for Tonn Nua Offshore Wind Development

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Ørsted and ESB Secure Rights for Tonn Nua Offshore Wind Development

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Orsted ( (DOGEF) ) has provided an announcement.

Ørsted and ESB have secured provisional rights to develop the Tonn Nua offshore wind site off the coast of County Waterford, Ireland, through the country’s second offshore wind auction. The project, which aims to develop a 900 MW fixed-bottom offshore wind farm, is part of Ireland’s Offshore Renewable Electricity Support Scheme and represents a significant step towards the country’s renewable energy and Net Zero goals. The joint venture will now proceed with necessary assessments and approvals, with the final investment decision expected around 2031 and first power anticipated in the mid-2030s.

More about Orsted

Ørsted is a global leader in developing, constructing, and operating offshore wind farms, with a core focus on Europe. With over 30 years of experience, Ørsted has a total installed renewable energy capacity exceeding 18 GW across Europe, Asia Pacific, and North America. The company is headquartered in Denmark and employs approximately 8,000 people. ESB, established in 1927, is a leading Irish utility, majority-owned by the Irish Government, operating across the electricity market and serving nearly 1.9 million customer accounts in Ireland and Great Britain.

For an in-depth examination of DOGEF stock, go to TipRanks’ Overview page.

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