Ørsted Joint Venture Secures Project Rights in Ireland: Ørsted and ESB Awarded Contract for Irish 900 MW Offshore Wind Farm

Fredericia (Denmark) - The joint venture between Ørsted and ESB has received a provisional award from the Irish Department of the Environment, Climate and Communications for the development rights of the Tonn Nua offshore wind site off the coast of County Waterford, Ireland.

Tonn Nua was designated by the Irish government as the sole site for bidders under the Offshore Renewable Electricity Support Scheme (ORESS) Tonn Nua, Ireland’s second offshore wind auction. The site covers an area of 306 km² and is intended for a 900 MW fixed-bottom offshore wind farm.

The auction provides a partially indexed 20-year Contract for Difference (CfD), as well as the right to apply for a seabed lease and a grid connection. According to Ørsted, the final investment decision is expected around 2031, with first power anticipated in the mid-2030s.

Alana Kühne, Head of Region Europe Development at Ørsted, stated: "Offshore wind will play an important part in the future Irish energy system ensuring green, affordable and secure energy. We will continue to work with our joint venture partner ESB to carefully assess and progress this early-stage development opportunity.”

Jim Dollard, Executive Director Generation & Trading at ESB, said: “ESB is delighted with the outcome of the ORESS Tonn Nua auction. It secures a clear pathway for the development of a significant project off the coast of County Waterford marking another important step toward Ireland’s renewable energy and Net Zero ambitions.”

The project is in an early stage of development. The next steps include applying for a Maritime Area Consent and a Marine Usage Licence with the Irish Maritime Area Regulatory Authority for surveys and assessments. EirGrid will construct the transmission assets. Under the CfD requirements, the Tonn Nua offshore wind farm must be operational no later than 1 January 2037.

Tonn Nua is the first offshore wind site that the 50/50 joint venture between Ørsted and ESB, established in 2023, has brought into an Irish auction and represents a strategic milestone for the expansion of renewable energy in the country.

Ørsted’s share price is slightly down this morning, currently trading 0.3 percent lower at EUR 17.56.

Source: IWR Online, 27 Nov 2025