"We welcome this commitment from the Minister for Energy and look forward working with the

Irish government and the Sustainable Energy Authority of Ireland to sustainably exploit

Ireland's incredible wave resource," Carnegie Wave Energy Ireland board member Kieran O'Brien said.

The €16.8 million boost to Ireland's Offshore Renewable Energy Development Plan from 2013-16 will help support west coast test sites, research projects and prototype development.

Carnegie said the plan identified more than 70 gigawatts of potential marine renewable energy resources in Irish waters - about 14 times the country's energy demand.