'Right time' for Waterford Port plans says Shanahan

At a recent Waterford Chamber After Hours event at Waterford Port, CEO David Sinnott spoke about current and incoming developments for the area, and the potential economic impact for the South East from offshore wind farm development.

He said: "We are pleased to be part of the South East Offshore Taskforce and I am pleased that this task force has commissioned a study that will highlight the economic benefit for the area.” 

David continued: “Let’s consider just two of the areas on the DMAP [Designated Maritime Area Plans] being built out. Each wind farm will cost €4 to €5 billion to build; following commissioning it will operate for 25 to 30 years.

"If the right Port facilities are in place, relevant industries will be located in Port areas." 

He went on: "Imagine if just 5% of the total cost was to be spent locally, that would equate to €200 million of an additional economic stimulus for the region. 

"If two wind farms were to be built out, you could more than double this figure. That is the equivalent of 3 North Quays projects."

Waterford TD Matt Shanahan was in attendance at the event and shared his thoughts on matters afterwards the to Waterford News & Star. 

He said: "We've known for years that there's significant potential around the South East, certainly in Waterford, it's actually recognized within the Government's own programme. 

"They've acknowledged that Waterford should be the economic driver of the South East.

"The projects that have been spoken about are coming at the right time, the whole drive for renewables, the whole drive to decarbonisation, and Waterford Port has a major part to play in that without a doubt."

Investment needed

However, Deputy Shanahan stressed that great plans fall apart without the proper funding: "The big game changer that's required is investment from the State. 

"All of this vision is fantastic but it can't happen without investment and the State has to step forward."

Comparing Waterford with other regions, he said: "The actual plans here that the board is talking about are actually very modest in terms of port infrastructure, particularly competing port infrastructure. So in Cork at the moment, their port infrastructure plan is anywhere from €250 to €400 million.

"What's being described for Dublin is over €1 billion, and the North of Ireland is something similar. 

"So if we're going to start staging offshore wind in Ireland, unfortunately, that's the type of money that's required, and the State generally will have to invest that money so we do need government to step forward here."

Deputy Shanahan described plans to expand Dublin Port as 'lunacy', saying: "In my opinion, they should be trying to de-clutter Dublin and get some of that land bank back there for housing and use areas like this that are not congested."

He went on: "Ultimately all of this ambition is wonderful, but you know, it does need the fuel to start the motor going, that means government have to step up.

"Unfortunately, historically, they haven't shown much inclination to invest in this part of the region, but it is very important."