Shell has acquired a 51% stake in Simply Blue Energy's Emerald Project, a groundbreaking floating wind initiative in the Celtic Sea aimed at meeting Ireland's renewable energy targets.
Information on the Target
The Emerald Project is a significant floating wind initiative located in the Celtic Sea, developed by Simply Blue Energy. The project aims to harness up to 1 GW of renewable energy, contributing to Ireland's commitment to achieving a renewable electricity target of 70% by 2030. As a venture, it is structured as a joint operation between Simply Blue Energy and Shell, with Shell acquiring a 51% stake in the Kinsale venture, specifically dedicated to the Emerald Project.
Headquartered in Cork City, the joint venture emphasizes collaboration, utilizing Shell’s expertise in floating wind technology. The project not only reflects the increasing adoption of renewable energy solutions but also positions Ireland as a potential leader in offshore wind energy production within the European landscape.
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Industry Overview in Ireland
The renewable energy sector in Ireland has seen substantial growth in recent years, primarily driven by government policies aimed at increasing the national renewable energy output. In
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