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accelerate rapidly over the coming decade. A number of Irish wave convertor device developers have un- dertaken prototype demonstration (e.g. Ocean Energy

Ltd, Wave Bob Ltd) and are in transition towards early commercial array demonstration. It is imperative that this early mover advantage be maintained to ensure

Ireland’s place as a global centre of excellence in this area. To this effect, the Westwave project, under devel- opment by the ESBI, will be supported by IMERC as an associate partner.

Signi? cant potential also exists in the offshore hydro- carbon industry. Studies by the Department of Commu- nications, Energy and Natural Resources indicate that a substantial gas yield located in the South Porcupine basin off the West Coast of Ireland could yield €5 bil- lion over its lifetime in taxes. According to the Irish

Offshore Operators Association (IOOA) such discov- eries would improve the international markets’ view of Ireland’s economic prospects, while resulting in signi? cant job creation, and the establishment of spin- off industries. Furthermore, the potential to transfer knowledge from the offshore hydrocarbon sector to the marine renewable energy sector is not to be underesti- mated.

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