Around €100 billion will be spent on developing wind-powered electricity generation off Irish and British coasts over the next 12 years, one industry figure predicted yesterday.

The plans are drawing multinational investors such as Mitsubishi and GE to Britain, but Ireland is not moving quickly enough to cash in on the job-creation opportunities that offshore wind offers. Eimear Cahalin of Mainstream Renewable Power told a conference in Dublin yesterday the offshore wind projects planned for Irish and British coasts over the next 12 years represented an investment of €100 billion.