Executive Viability Abstract
This feasibility study evaluates the development of Ireland's green hydrogen production and export infrastructure, leveraging the nation's vast offshore wind potential (estimated at 30GW+ by 2050). The project focuses on creating a robust export corridor to the European mainland, specifically targeting the industrial hubs of Germany and the Netherlands, in alignment with the EU's REPowerEU targets.
Return on Investment
16.5%
Payback Span
11 years
Net Present Value
$2.45 Billion
IRR Index
14.2%
## Introduction
Ireland is positioned as a potential renewable energy superpower due to its location on the Atlantic shelf. This study assesses the viability of converting surplus offshore wind energy into Green Hydrogen (H2) for international export.
## Market Analysis
The European Union requires 20 million tonnes of renewable hydrogen by 2030. Ireland’s domestic market is small, but the proximity to the 'H2Med' pipeline projects and the Port of Rotterdam makes it a prime exporter. Current market pricing for green hydrogen is projected to stabilize between €3.00-€5.00/kg by 2035, making Irish wind-derived H2 competitive against fossil-fuel-based blue hydrogen.
## Technical Feasibility
Key infrastructure requirements include 5GW of dedicated offshore wind capacity, PEM (Proton Exchange Membrane) electrolyzer facilities at strategic ports (Shannon Foynes and Cork), and hydrogen storage solutions. Export will utilize two main pathways: repurposed subsea natural gas pipelines and Liquid Organic Hydrogen Carrier (LOHC) shipping.
## Clean Energy Forecast
Wind energy yield in the Atlantic sector shows a capacity factor of over 50%. By 2030, Ireland is forecasted to have a 2GW surplus during peak production periods, which is sufficient to produce 150,000 tonnes of green H2 annually.
## Financial Projections
Total Capex is estimated at €12.5 billion over 10 years. Revenue will be driven by long-term Offtake Agreements (PPAs) with European industrial conglomerates. High initial costs are offset by EU subsidies (Hydrogen Bank) and declining electrolyzer technology costs.