From 17 – 20 November, the bidding window for Ireland’s first lease and support auction, the Offshore Renewable Electricity Support Scheme (ORESS) 2.1 auction, will open.
The auction follows a government-led approach with a single identified site of 900 MW installed capacity, the Tonn Nua site, on the southern coast of Ireland.
🔹 A 2-sided CfD for 20 years will be awarded to the auction winner, based on the lowest offer price among the qualified bidders.
🔹 The winner will have to submit a pre-award prepared Maritime Area Consent (MAC) application and thereby also secure the site exclusivity.
🔹 Final auction results are anticipated in early December. Delivery of the project is expected to align with the grid connection delivered by the TSO, currently set for mid-2033.
To enable further deployment at scale, several key barriers must be addressed. Among others, accelerating grid upgrades to accommodate new capacity and reduce curtailment, advancing current projects from consenting to construction as well as ensuring visibility of the auction pipeline.
Although the timing of any additional auctions remains uncertain, Ireland has established significant offshore wind deployment targets, with 20 GW by 2040 and 37 GW by 2050 and will commence the work of a national spatial plan of offshore wind opportunities.
Interested in a more in-depth walkthrough of Ireland's ORESS 2.1 auction, including bid price estimation and competitor analysis, or a general market outlook?
Reach out to us to book a meeting.
At Aegir Insights' we have also published a warm-up analysis for the ORESS 2.1 to our subscribing clients, giving an overview of the ORESS 2.1 auction, its support scheme and auction timeline, as well as an estimated bid analysis. Read more about our warm-up analysis here.
LCoE heat mapping with Aegir Quant™
Aegir Insights' advanced modelling in Quant™ helps to screen market and site attractiveness, providing a dynamic visualization of offshore wind resources and their economic potential.
The geospatial LCoE heat map highlights the economics of placing offshore wind farms in certain locations globally and always considers factors that directly impact the costs, such as wind speed, water depth, distance to suitable ports and grid connection points. The heat map can be further customized according to other considerations or constraints relevant to the area in question.
Aegir Insights’ high-level value mapping gives an early-stage overview of attractive sites for offshore wind development, helping to shape strategy for regional development of offshore wind. Clients have access to a LCoE heat map covering the entire globe on the Aegir Platform.
Reach out to get a demo of Aegir Quant™ and the Aegir Platform.
Aegir Newsletter: Stay up-to-date with development in offshore wind and new analysis by Aegir Insights
Delivered straight to your inbox, Aegir Insights' intelligence newsletter will sharpen your market insight with exclusive analysis on key markets, developments, and technologies shaping offshore wind.