Dáil Éireann Debate, Thursday - 11 December 2025
62. Deputy Mairéad Farrell asked the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation if his attention has been drawn to the €35 million penalty paid by an organisation (details supplied); and if any of this penalty will be invested into local communities in Connemara; and if he will make a statement on the matter. [70766/25]
View answerSceirde Rocks was a 450 MW offshore wind project that was one of the successful bidders in the first offshore wind (ORESS 1) auction in 2023. The Department of Climate, Energy and the Environment advise that the project submitted a planning application in January 2025. On 25 April, the project developers, Corio, formally notified the Department of Climate, Energy and the Environment that the project would not proceed.
This notification terminated the support contract for the project, which meant that Corio’s €35.5m performance security paid under the terms of the contract was also forfeit. It was transferred to the Department of Climate, Energy and the Environment in June 2025 and subsequently to the Exchequer, as required under the Public Financial Procedures.
The Public Financial Procedures sets out the main principles of government accounting and their application in the day-to-day operation of government departments and offices, including the treatment of Departmental receipts.
The performance security is considered an Exchequer Extra Receipt (EER). Exchequer Extra Receipts are receipts which have no direct connection with voted expenditure and therefore cannot be retained by departments for their own use. These receipts must be credited to the Central Fund. The Central Fund, also referred to the Exchequer, is the main bank account held by the Government in the Central Bank.
As an Exchequer Extra Receipt the funds received will be used to finance all Government expenditures, including projects in the Connemara region.
