Ørsted has announced that the Irish government has awarded rights to develop a 900 MW offshore wind farm to a joint venture between it and Irish utility ESB .
The Tonn Nua project was awarded with a 20-year contract for difference secured at a strike price of €98.72 per MWh.
The Tonn Nua site is in an early phase of development and will need to seek several permits and also meet the joint venture’s own value creation criteria, said a spokesperson for Ørsted. The wind farm is expected to reach its first investment decision in 2031, with the first power generation expected in the mid-2030s.