The South Coast Designated Maritime Area Plan: Regional economic impact of offshore wind development identifies a substantial economic opportunity for both the south coast region and Ireland as whole as a result of the development of the south coast Designated Maritime Area Plan (DMAP) offshore wind pipeline.
The study is based on a scenario where implementation of the South Coast Designated Maritime Area Plan results in the development of approximately 5 GW of future offshore wind capacity. Overall, the south coast DMAP will deliver an estimated €4.4 billion in gross value add (GVA) benefits to the Irish economy. GVA reflects the total Euro value of the goods and services purchased in the project lifecycle of the offshore wind farms considered. It will also deliver an estimated 49,000 full-time equivalent (FTE) years of employment to the Irish economy. FTE years are a measure of employment activity. Each FTE year is equivalent to one person working full time for one year.