“Once I found a community of women who empowered each other through strength, I realised how cool it is to be strong and capable”
“Once I found a community of women who empowered each other through strength, I realised...

Megan Burns

Real Weddings: Sade and John’s wedding at a charming estate in Co Meath
Real Weddings: Sade and John’s wedding at a charming estate in Co Meath

Shayna Sappington

Fine wine: How our favourite tipples are influencing our outfit choices
Fine wine: How our favourite tipples are influencing our outfit choices

IMAGE

My Life in Culture: Actor Lauren Larkin
My Life in Culture: Actor Lauren Larkin

Sarah Finnan

How to spend 48 hours in Kenmare
How to spend 48 hours in Kenmare

Lizzie Gore-Grimes

The Irish cleaned up at this year’s British Fashion Awards
The Irish cleaned up at this year’s British Fashion Awards

Sarah Gill

The IMAGE team’s party season make-up favourites
The IMAGE team’s party season make-up favourites

Holly O'Neill

‘Surrounding yourself with positive people makes the day job so much more fun’
‘Surrounding yourself with positive people makes the day job so much more fun’

Sarah Finnan

Take a tour of this Cobh cottage currently on sale for €450,000
Take a tour of this Cobh cottage currently on sale for €450,000

IMAGE

Social pictures from the IMAGE Business Club networking event in Cork
Social pictures from the IMAGE Business Club networking event in Cork

IMAGE

‘Companies who conserve energy will positively impact their bottom line’: an ESG professional on this business essential
Sponsored

‘Companies who conserve energy will positively impact their bottom line’: an ESG professional on this business essential

Sponsored By

by Megan Burns
11th Nov 2024
Sponsored By

Working at the forefront of Ireland’s next wave of renewable energy, Aisling Donnelly, PwC Senior Manager in PwC’s Energy Transition, Capital Projects and Infrastructure Deals Advisory Team, shares the challenges and opportunities involved.

It may have been a self-described “winding path” for Aisling Donnelly to end up working in the energy transition space, with stints in telecoms, finance, and even wine, but having gained experience in project financing for renewable energy in a role with Bank of Ireland, she made the move to PwC knowing that she had found her passion. “I’ve had lots of different roles, and I’ve found many skills to be transferable, but I want to develop and grow within the energy transition space,” she explains.

A main aspect of her role is to give funding and financing advice to investors and developers on a range of energy transition projects including supporting infrastructure, such as the port infrastructure required to build and maintain offshore wind farms. While it’s incredibly exciting and rewarding to be involved in projects of this scale with their potential impact, Aisling explains that “there’s no instant gratification, because from the start of a project, it could be more than ten years before they’re operational.” 

Strict planning regulations in Ireland are some of the biggest challenges that teams working on such projects face, but they’re not the only ones. “There are grid capacity issues, and the offshore wind grid hasn’t even been built yet,” Aisling says. “And for offshore wind developers, a big challenge for them is that the only port in the island of Ireland that could currently facilitate the build-out of offshore wind is in Belfast.”

Nonetheless, these projects are critical to the future of Ireland’s renewable energy capabilities, an area where we’re lagging behind other countries.

“Ireland built its first offshore wind farm 20 years ago,” Aisling explains, “and we were way ahead of the curve, but we haven’t built any since. Ireland’s marine territory is more than ten times the size of its land mass, so we have got such potential for offshore wind, particularly along the west coast. There is a lot of engagement throughout the industry to make sure that we get this right, and we develop a fit-for-purpose system for building out our offshore wind sector.”

Working within such a complex and ever-changing field, Aisling says one of the things she enjoys most about her role is how varied it is. 

“I could be looking at a financial model, or writing a business paper. I could be meeting with developers or other stakeholders and getting their feedback to inform my analysis. Or I could be meeting with lenders to get a sense of how much they would lend, and what terms and conditions are attached. There are a lot of conferences on, so you hear what’s going on in the industry. Every day is very different, which is brilliant.”

Another exciting aspect is the huge potential impact of the projects she works on. “I can’t wait to see a new offshore wind farm built in Ireland. I think it will be absolutely incredible, and bring so many opportunities to Ireland. The Irish government recently launched an Offshore Wind Skills Action Plan that identifies skills shortages required for the development of offshore wind, and looks at training requirements to bridge the gap. What’s also great is the job opportunities this industry will bring communities across the country, especially coastal communities.”

Ireland built its first offshore wind farm 20 years ago, but we haven’t built any since. Our marine territory is more than ten times the size of its land mass, so we have got such potential for offshore wind, particularly along the west coast.

This field is becoming ever more topical as we all realise the importance of switching to renewable energy sources. Aisling also highlights the increasing weight environmental, social, and governance (ESG) issues are given within companies. “ESG is becoming much more important for investors. They want to invest in a company they perceive as doing the right thing, so reputationally for a company, it’s huge. And even from a simple cost perspective, companies who conserve energy and reduce waste will reduce costs, and positively impact their bottom line.”

If you find the amount of information on these topics overwhelming, Aisling recommends looking to a trusted source. “On PwC’s website, for example, we have an ESG-specific area, and we have thought leadership pieces on topical ESG subjects. You can also follow experts on LinkedIn, which is a good way to find interesting articles.”

We can’t all make such a direct impact on the environment as working on renewable energy projects, but Aisling points out that whether as an individual or a company, we can all make positive changes. For companies, she says it’s key that any goals become a part of the overall plan for the business. “It’s about understanding what it is that you want, and then embedding that in the overall strategy. ESG can’t be something that is completely separate from your strategy and your financial targets. What is also really important is that whatever goals you have in place, that they’re measured and managed. Critical to all of it is that you have employee engagement, and that you really take the time to explain what it is to employees, why it is important, if they need to be trained up on systems, or if there needs to be a change in the way that they do things.”

Overall though, her recommendation is the same whether you’re an individual or a company. “My advice would be, don’t let perfection get in the way of good enough, start with something, no matter how small, and build on that.”

PwC’s dedicated Environmental, Social, and Governance (ESG) team has extensive experience working alongside businesses to undertake tech-powered transformations that deliver sustainable outcomes and create real value. Make your climate actions count with PwC, visit pwc.ie/esg.

Photography: Kieran Harnett

Also Read