Wednesday, the joint venture, formed by energy companies Ørsted A/S and ESB, was selected by the Irish Department of Climate, Energy and the Environment to develop the Tonn Nua site, located off the coast of County Waterford.
The project, involving a fixed-bottom offshore wind development at the Tonn Nua maritime site, was won in an auction with a 98.72 euros per megawatt-hour bid.
The site is the only one designated by the Irish government for bidders under the Offshore Renewable Electricity Support Scheme Tonn Nua.
Ørsted stated that it will work along with ESB to carefully assess and progress this early-stage development opportunity, including ensuring that the project lives up to our value creation criteria.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.