Ireland has 'potential to emerge as a renewable energy powerhouse'

“Sitting in this enviable position on the edge of the Atlantic, we have the potential to emerge as a renewable energy powerhouse,” said Mr Murray.

“Our commitment to delivering on this is critical to achieving energy security and future resilience.”

“This year alone, we have seen many steps taken to enable the growth of the sector, with the launch of Mara [the Maritime Area Regulatory Authority], the first offshore wind auctions, and increased activity in the solar landscape. 

"Paving the way for energy independence will not only enhance our appeal to investors but it will also elevate the quality of life in Ireland which ultimately will create a more secure legacy for the generations to come.”

Delivering the keynote address at the Burlington Hotel, Mr Varadkar said the development of offshore wind in places such as Cork is Ireland’s ‘moonshot’.

“Offshore renewable energy will become a reality over the course of the next decade and Cork stands to be a big beneficiary,” said Mr Varadkar.

“There are incredible opportunities for us if we act quickly and ambitiously.

“I want Ireland to become energy independent by harnessing our untapped renewable energy resources, particularly our offshore wind. 

"This is our moonshot for the 21st century — something to strive for, not because it is easy but because it is hard. 

"Recalling the vision of Ardnacrusha and the spirit of the Free State.

“Port areas such as Cork and its hinterlands will be central to the development of this new industry.”

The Taoiseach also said he believes that more balanced regional development is good for the country as a whole.

“Cork, as a city-region, has a population approaching 600,000 people which is similar to that of Galway, Limerick, and Waterford combined.

“Cork City and county can lead the way with Government in generating economic and population growth. 

"We will be there to ensure it succeeds through increased investment in infrastructure like rail, roads, housing, schools, hospitals, universities, energy, and water.”

Mr Murray said the two vibrant urban hubs showcase a remarkable synergy.

“One that resonates on the global stage. We have consistently demonstrated an extraordinary capacity to attract substantial foreign direct investment to our island and equally to maintain an economic environment that can serve as a launchpad for Irish private enterprises eager to scale and make their mark on the international stage,” he said.

Outstanding Contribution to Business

At the same event, Cork Chamber honoured former PM Group chief executive Pat McGrath with its Outstanding Contribution to Business Award.

Mr McGrath’s role at the company played a significant part in his career. 

In the early 2000s, his period as CEO was instrumental in chartering the organisation’s internationalisation. 

He led the engineering firm’s strategy to transform the company from a primarily Ireland-only focus into an international services firm focused on multi-national companies in the life sciences, food, energy, data centre, and advanced manufacturing sectors across the world.

PM Group has grown to 3,500 people across 20 offices globally.

Mr McGrath joins a distinguished group of previous award recipients including Cathy Kearney, Jim Woulfe, Bob Savage, Anne O’Leary, Seán O’Driscoll, and Frank Boland for their contributions to business.

“Through his career, Pat has shown exemplary strategic and visionary thinking,” said Mr Murray. 

“He has chartered a wonderful career and mapped out new territories through his contributions to PM Group, helping the company to break into new markets, ultimately making this Irish-born organisation a global success in its field.”

Receiving the award, the Tipperary man said: “I never thought when I came to Cork 45 years ago as a young engineer for a six-week assignment that I would be the recipient of this prestigious award in my adopted city.

“Cork has been the ‘launch pad’ for the growth of PM Group from a small indigenous player into an international engineering company with a global reach.”