Moneypoint is one of Ireland’s largest energy generation stations, and was developed in the 1980s to mitigate against the then oil crisis.
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Moneypoint commenced its transition away from fossil fuel generation on site in 2017 with the construction of a 17MW onshore wind farm. In 2021, ESB announced a multi-billion-Euro plan to transform the site into one of the country’s largest renewable energy hubs.
Phase one of this plan was completed in 2022 with a €50 million investment in Ireland’s first synchronous compensator—a zero-carbon technology that allows the system to utilise ever-increasing amounts of use of renewable electricity.
In 2023, ESB and EirGrid signed an agreement to keep Moneypoint available to generate on oil from 2025 up to 2029 and will only be required to operate when the electricity system is short of generating capacity, and under instruction from EirGrid.
Minister for Climate, Energy and Environment, Darragh O’Brien TD said, “The role that Moneypoint has played in providing Ireland with a reliable supply of electricity for more than four decades cannot be overstated.
“Today, the next step of the station’s journey is beginning as the shift from coal to oil takes place. This is not just a significant move for ESB but also for the country as a whole as Ireland powers forward to deliver the clean energy transition underpinned by a secure electricity system.”
ESB CEO Paddy Hayes said, “Marking the end of coal generation in Moneypoint is an important milestone in ESB’s progress towards net zero.
It is a significant step in Moneypoint’s transformation into a renewable energy hub, supporting a low carbon future while continuing to support energy security.
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“Moneypoint, the teams working here, and the communities across West Clare have been at the heart of powering Ireland’s electricity system for the best part of 40 years so far— and I would like to thank all those who have played a part in that.
“At ESB, we look forward to continuing to work together, invested in delivering a clean energy future for all.”
