Shannon Foynes Port, Ireland’s second largest port operator and largest bulk port company, has statutory jurisdiction over all marine activities on a 500km2 area on the Shannon Estuary, stretching from Kerry to Loop Head to Limerick City.
Adjacent to the world’s busiest shipping routes, with current capacity to handle over 10 million tonnes annually and with water depths of up to 32m, we are uniquely positioned to expand as an international cargo hub serving the domestic, European and worldwide markets. This expansion will be accommodated by up to 1200 hectares of land available for Port development.
News & Events
21 December 2021
SFPC welcomes Government, Ministers and Department of Transport, multi-port approach for the development of Irish Ports for ORE as outlined in its new Port Policy Statement.
Government sets policy for Ireland’s commercial ports to develop infrastructure to support offshore renewable energy
Policy will encourage ports to apply for EU funding
Timely development as Oireachtas passes the Maritime Area Planning BillThe Department of Transport has published a Policy Statement setting out the strategy for commercial ports to facilitate offshore renewable energy activity in the seas around Ireland. The Policy Statement, noted by Government last week, will also assist Ireland’s commercial TEN-T ports in applying for EU funding to develop new infrastructure. It’s part of a series of Government measures to prepare for a massive expansion of offshore renewable energy, including the passing last week of the Maritime Area Planning Bill. The Programme for Government set a target for 70% of electricity to be generated from renewable sources by 2030 and for 5GW of offshore wind by 2030. The Climate Action Plan published on 4th November 2021 (CAP 21) has since increased the target to up to 80% renewable electricity by 2030. Both plans also set out how Ireland will take advantage of the potential of at least 30GW of floating offshore wind power in our deeper waters in the Atlantic. Given Ireland’s increased ambition in Offshore Renewable Energy and pending a review of overall National Ports Policy, the Department of Transport, in conjunction with the Irish Maritime Development Office (IMDO), conducted an assessment of the options for Irish State ports to facilitate the ORE sector and assist in Ireland achieving its emission reduction targets. On receiving the recommendations of that assessment, the Minister for Transport has decided that a multi-port approach will be required. A number of ports will be required to provide facilities for the different activities at several locations around the country and at different times for the various phases of the fixed and floating ORE developments. This will maximise the economic benefits at both regional and national level in terms of job creation and new SME enterprises in areas such as engineering, fabrication, transport and logistics, and other technologies. With one of the best offshore renewable energy resources globally, there is very significant potential in utilising these resources to generate carbon-free renewable electricity. The development of this vast resource can enable Ireland to enhance the security of energy supply by substituting imported fossil fuels with indigenous renewable resources and, potentially, by developing an export market in green energy, either through electricity export from interconnectors or from power to gas such as hydrogen generation. Greenhouse gas emissions will be reduced, while delivering growth to the economy and supporting regional development. Commenting Minister Ryan said:- ‘Offshore renewable energy developments will typically require both large-scale port infrastructure for project deployment and smaller-scale port facilities to provide ongoing operation and maintenance services. Around the Irish coast, ORE projects will develop in several phases. To meet Ireland’s target of 5GW by 2030, it is clear that more than one port will be required. This will mean new jobs and new businesses in and near our ports, to support the development of offshore wind at various locations, beginning on the east coast and expanding to the west coast at a later stage. This approach is best suited to deliver the offshore renewable energy targets set out in the Programme for Government and the Climate Action Plan 21, and to position Ireland to take advantage of the economic opportunity created by the roll out of both fixed and floating offshore wind in Irish waters. This Policy Statement makes it clear to the offshore industry that the Government is committed to the provision of port facilities in Ireland for ORE developments, and I would encourage our TEN-T ports to apply for the EU funding that has recently been made available for this sector.’ A number of ports and private entities are already progressing plans to provide the facilities and infrastructure required to assist the ORE sector to develop in Ireland. This Policy Statement endorses that development. The plans underway include preparations for the provision of large-scale deployment facilities at Rosslare Europort and at Cork Dockyard facility (formerly Verolme Dockyard) located within the limits of the Port of Cork. Drogheda Port is also proposing developing largescale deep water port facilities on the East coast and Shannon Foynes Port Company and ESB are planning largescale development within the Shannon Foynes estuary. Wicklow and Arklow have already entered arrangements with individual ORE project developers to serve as operation and maintenance bases. It is recognised that there will be opportunities for other ports such as the ports of Waterford, Galway, Bantry under the Port of Cork, and the Fishery Harbour Centres of Ros an Mhíl, Killybegs and Castletownbere which are under the remit of the Department of Agriculture, Food and the Marine. The Department of Transport will establish a ports co-ordination Group to coordinate port responses and maintain policy alignment. A cross-departmental Offshore Renewable Energy Team, chaired by the Department of Environment, Climate and Communications, is being established to capture wider economic and business opportunities associated with the development of offshore renewables in Ireland. This will include the identification of supporting infrastructure development and supply chain opportunities as Ireland’s offshore wind industry is developed. Minister of State Hildegarde Naughton added:- ‘This Policy Statement gives clarity to the ORE sector and ports and I would strongly encourage ORE developers and ports to engage in meaningful commercial discussions. This will ultimately allow investments that are commercially viable in the long-term progress without undermining the ability of any port to meet its primary obligations in relation to the facilitation of international trade. This year, the criteria for Connecting Europe Funding facility (CEF) which is the funding instrument for the EU's Trans-European Transport Network (TEN-T), was extended to allow partial funding for ORE related port infrastructure. This is a competitive process with the possibility of successful eligible TEN-T applicants obtaining significant grant funding of up to 50% of eligible costs for studies and up to 30% of infrastructure works costs. My Department will assist, as appropriate, those applicants that are eligible to put forward applications for studies or works under the CEF calls’. The Ministers also extended their thanks to the Irish Maritime Development Office for their assistance in the assessment process. ENDS
20 December 2021
Shannon Foynes Port Company welcomes Government & The Department of Transport continued support and high priority listing of the need for the M21 Limerick-Adare Bypass/N69 Link to Foynes.
Over Two-thirds of a Billion Euro Allocated to Ireland’s National Roads and Greenways for 2022
Major expansion of Greenway network to be facilitated by funding and a new Code of Practice
National Road projects will prioritise safety, regional connectivity, bypasses and key NDP projectsThe Minister for Transport Eamon Ryan T.D. has today confirmed that Transport Infrastructure Ireland (TII) has issued the Greenways and national road funding allocations totalling €676 million to local authorities for 2022. TII is responsible for securing the provision of a safe and efficient road network and provides annual funding allocations to local authorities for this purpose. TII has also recently been assigned responsibility for Greenways. Funding of circa €60 million has been allocated to around 40 Greenway projects across the country in 2022, in nearly every single county. Significant Greenway investment is being directed at the border counties; Donegal is progressing a number of Greenways and Cavan, Monaghan, Leitrim and Louth are also receiving investment that will see an expansion of cross-border Greenways. Many local authorities are now working together to progress projects in their region. Cork and Waterford are developing a Mallow to Dungarvan route, and Sligo, Cavan and Leitrim are working with Fermanagh and Omagh District Council to develop the Collooney to Enniskillen route. Minister Ryan said: “This funding will also support extensions of the Grand Canal Greenway in Offaly, Kildare and South Dublin, link the North Kerry Greenway to the Limerick Greenway, and join the Waterford to New Ross Greenway with the Waterford Greenway. We are moving into a new and exciting phase when more and more Greenways are being connected, with TII also developing a National Cycle Network.” Minister Ryan continued: “I’m particularly happy that agreement has been reached on a Code of Best Practice for National and Regional Greenways. This Code has been agreed with the farming representative bodies and other stakeholders and provides us with an approved way to achieve voluntary land sales for Greenways where needed. Community buy-in is central to the future of our Greenways, which are one of the big success stories of rural Ireland. Greenways are a wonderful amenity for leisure and tourism, and they are also important for everyday journeys to school, work or the shops” Minister of State Hildegarde Naughton T.D. said “The Galway to Dublin Greenway, a 330km car-free corridor between Galway and Dublin, linking the Atlantic coast to the East coast, has a particularly exciting focus in the funding being announced today. Counties including Meath, Kildare, Westmeath, Offaly will benefit from investment towards this project. Once complete, the Dublin-Galway project will provide both a local and national amenity for communities and visitors to enjoy while also supporting local business such as cafés, shops, B&Bs, camping sites and hotels. “As a Minister based in the West of Ireland, I am also very pleased to see the Connemara Greenway receive a strong funding allocation of over €3 million in 2022. This funding includes the routes between Clifden to Recess (€1.9 million), Galway to Moycullen (€600k) and Derrygimlagh-Clifden-Kylemore Abbey (€550k). I very much look forward to cycling this route, some of which is due to be completed in the second half of next year.” Funding for National Roads Approximately €616m of Exchequer funds have been provided for national roads through TII to local authorities in 2022 (regional and local roads are allocated separately). The 2022 funding allocations are made having regard for the National Development Plan 2021-2030 (NDP), which balances investment in transport against other priorities of Government on housing and health over the lifetime of the Plan. TII is allocating the funding in a manner which seeks to achieve the following key outcomes in line with the NDP:
- Protection and renewal of the existing network.
- Progress major projects in or near construction.
- Progress those projects which are further along in the development pipeline, e.g., the N21/N69 Foynes/Adare project and the M28 Cork Ringaskiddy project.
- Prioritise any remaining funds for projects which provide for local bypasses and compact growth in towns.
- N56 Dungloe to Glenties
- N22 Ballyvourney to Macroom
- N5 Westport to Turlough
- N5 Ballaghaderreen to Scramoge
- M8/N40 Dunkettle Interchange
- N59 Moycullen Bypass
- N69 Listowel Bypass
- M21 Limerick – Adare Bypass/N69 link to Foynes
- M28 Cork to Ringaskiddy
- N6 Galway City Ring Road
- N52 Ardee bypass
- N2 Slane Bypass
- N2 Rath Roundabout to Kilmoon Cross
- N2 Ardee to Castleblayney
- N13/N14/N56 Donegal TEN-T Project
- N3 Virginia Bypass
- N4 Carrick on Shannon to Dromod
- N11 Oilgate to Rosslare
- N17 Collooney to Knock
- N21 Abbeyfeale Relief Road
- N21 Newcastle West Relief Road
- N22 Farranfore to Killarney
- N24 Cahir to Limerick Junction, incl. Tipperary Bypass
- N72/N73 Mallow Relief Road
- N3 Clonee to M50 - to interface to BusConnects
- N11 Bray to Kilmacanogue - bus lane component
- M4 Maynooth to Leixlip - bus lane component
- N/M20 Cork to Limerick Project
- N25 Castlemartyr and Killeagh Bypass
- N26 Foxford Bypass
28 October 2021
SFPC as a member of the Irish Port Safety Forum is proudly supporting & participating in the Irish Ports Safety Week.
1st – 5th November 2021To help us launch our first Irish Ports Safety Week, we have decided to run a colouring competition for all families of SFPC Employees, Port Users, Stakeholders, Tenants etc. How to enter
- The competition is open to children up to 13 years of age.
- Just download & print out the pdf, colour in the page and when it’s complete add your name and age to the back. Click here to download
- You can also drop it to our offices in Foynes/Limerick (we’re open Mon – Fri) or post to the following address
- Please ensure to include the entrants name & the name & mobile no. of your contact within the Port Company on the back of the sheet.
- Competition will close on Friday 19th of November 2021
- Winners will be chosen / notified before Friday 26th November 2021
- By entering this competition you consent to the retention of your data for the duration of the competition(approx. 2 weeks). Thereafter your information will be destroyed. We will not use any contact information for marketing purposes.
11 October 2021Germany’s ‘Green Hydrogen Commissioner’ supports Shannon Estuary’s “incredible opportunity” as an international renewable energy and hydrogen generation hub. Weekend visit to Foynes endorses unprecedented opportunity for estuary and state in ‘green hydrogen’ generation. For full details click here.
27 July 2021
Shannon Foynes Port Company sees out year of unprecedented challenges with solid performance.A strong final quarter and prudent cost management saw the country’s largest bulk-port and second largest port company, Shannon Foynes Port Company (SFPC), deliver a solid performance in the face of COVID-19 and Brexit impacts, its 2020 annual report reveals. The sound underlying operational strength of the company saw tonnage reduction mitigated to just 1.9% year on year, despite the unprecedented challenges arising from COVID-19, which heavily impacted core markets such as the construction and transport sectors. The company reported an operating profit for 2020 of €3.3m (2019: €3.9m) and profit before tax of €3.1m (2019: € 4.9m). Turnover decreased by 7.6% to €12.9m (2019: €14.0m). SFPC’s €1.8m year-on-year reduction in profit before tax was against the backdrop of the 2019 figure including a non-recurring profit on sale of fixed assets of €1.4m, the report notes. The performance was, however, underpinned by robust cash management and cost control measures in response to the pandemic. Accordingly, costs were reduced, as evidenced by returning EBIDTA margin of 42.9% (2019: 43.3%) and reporting EBITDA of €5.6m (2019: €6.1m). Capital spending was also reviewed and deferred in certain instances. In addition, the company, for the first time in its history, is in a net cash position as cash balances now exceed gross debt. In line with the onset of COVID-19, Q2 saw the largest negative impact on related cargoes and throughputs but a final quarter surge, which saw the company exceed performance year-on-year for the same period by 10.1%, resulted in tonnages overall close to parity with 2019. “Given the aforementioned circumstances, we believe this is a solid performance, particularly in the contest of the fixed cost nature of port operations,” CEO Pat Keating stated. Mr Keating stated that Brexit had little or no impact on 2020 performance, with the last-minute Brexit deal bringing certainty and being welcomed by the agricultural sector - an important sector for SFPC. However, it is clear from recent issues around the Northern Ireland protocol that Brexit risks remain, while the energy sector, particularly security-of-gas supply, is directly impacted by Brexit. This is a national issue and confounded by our country’s extensive reliance on electricity generation from gas, he said. Despite the very challenging year, the company remains very much on track with its Vision 2041 strategy launched in 2011. “Since 2011 tonnage at our general cargo terminals, and accounting for the Covid19 2020 contraction, increased by 45%. Over the 10year period from 2010, net assets have increased by 245% to €47.0m (2010: €19.2m), with annual net operating cashflow increasing by over 180% over the same period. Indeed, we are of the view that Vision 2041 projections could be considered conservative in light of projected population growth and climate action requirements.” The port company has, he said, a major role to play in relation to the latter as it is widely recognised by the offshore renewable sector as having significant comparative advantage. “SFPC’s harbour, the Shannon Estuary is a unique natural resource as it is the only waterbody in Ireland and one of the few across Europe that can facilitate the largest ships. With new ship builds trending ever larger this advantage is now becoming much more relevant than heretofore. Accordingly, there exists real potential to develop the Estuary as a maritime deep-sea hub,” he said. Original projections as per the company’s Vision 2041 masterplan could now be considered “on the conservative side of the scale” and among the target areas for growth include organic growth, establishing the Shannon Estuary as an Offshore Renewable Energy (ORE) Hub for floating offshore wind energy, facilitating alternative fuel transhipment/production (Hydrogen, Ammonia, LNG), establishing a logistics and global transhipment hub at Foynes and implementing the Limerick Docklands Strategy. However, key infrastructure required for this to happen will include the Limerick to Foynes road scheme, the need for which “cannot be emphasised enough”, said Mr Keating. Other investments required will include the Limerick to Foynes rail line for freight use; provision by SFPC of new port capacity, including jetty extension, new quay side set down and enabling works for 90 acres of port storage and warehouse facilities; advancement on the Limerick Docklands Strategy. Chairman David McGarry said that the Five-Year Strategic Plan 2021 – 2025, developed last year, has identified capital expenditures totalling €45.5million to develop port facilities. Looking forward, the chairman said that climate action momentum continues to build in favour of the port. “Due to its proximity to the Atlantic Ocean’s wind and wave resources and its many other comparative advantages, the port is very well positioned to facilitate coastal Atlantic offshore energy developments and was strongly supported in this by the sector during 2020. We continue to focus on and facilitate the positioning of the Port as a marshalling port for Atlantic offshore renewables.” Another objective is to implement unitised services from Foynes, with population growth freight demand associated with population growth set to put enormous incremental pressure on the existing unitised supply chain in Ireland. The commencement of new services from/to Foynes will, on completion of the Foynes to Limerick Road Scheme, provide new unitised capacity to the national supply chain within two hours travel time of roughly 40% of the country’s unitised market. “The Port therefore can play an increasing role in moving freight to Europe and beyond and help alleviate the transport congestion around Dublin and redistribute economic well-being throughout the country.” Ends
26 May 2021During the ESPO Conference Regatta 2021, eight ports received their Port Environmental Review System (PERS) certificates during a special ceremony. ESPO congratulates all the certified ports on their exceptional achievement. For more details click on the following link PERS CERTIFICATION AT THE ESPO CONFERENCE REGATTA 2021
09 April 2021Shannon Foynes Port Company says ESB-Equinor Moneypoint announcement will trigger era of unprecedented opportunity and growth Friday, April 9th 2021: Shannon Foynes Port Company (SFPC) has today welcomed the ESB-Equinor joint-venture for Ireland’s largest land or sea based wind-farm and an associated hydrogen plant at Moneypoint as the start of an unprecedented and transformative opportunity for the region and nation. Responding to today’s announcement of the multi-billion investment, SFPC Chief Executive Mr Keating said that it validates the enormous potential of the Shannon Estuary and west coast as a global renewable energy hub and the efforts of the port authority and other stakeholders to promote this opportunity over recent years. “This is a hugely positive day for ESB and Equinor but also for everyone who has been working tirelessly over recent years to promote this unprecedented opportunity for Ireland. We have one of the world’s great energy renewable resources, with the Atlantic wind resource considered amongst the best in the world. But we now finally have the wherewithal to use it because of the advancement of floating offshore wind technology and hydrogen generation. Put these elements together and we have the resource, the technology and base to transform Ireland into one of the world’s leading renewable energy locations,” he said. Mr Keating continued: “Today’s announcement is for 1,400MW of floating offshore wind and a green hydrogen production facility, which is huge in its own right. But we see it as just a start, albeit a critical and very impressive one. Last December we published a report estimating that the available wind resource of the west coast can generate up to 70GW of floating offshore wind energy, which is multiples of what we require as a nation, and it also identified potential for large scale hydrogen generation. So today is a brilliant beginning in realising that potential. “The sustainable development of this renewable resource will allow Ireland to meet its climate action targets not only for energy generation but also, in time, in the carbon intensive transport sectors. In addition, due to the scale of the Atlantic wind resource and for the first time in its history, the country could become a significant global renewable energy exporter. This will deliver a lucrative new revenue stream for the exchequer while transitioning to a low carbon economy.” Mr Keating said that the opportunity will also help achieve national targets for balanced economic development. “The opportunity from floating offshore renewable energy installations here on the west coast and the huge supply-chain potential that will come with it will deliver the type of balanced economic growth that Project Ireland 2040 rightly aspires to. For example, our report launched last December conservatively estimated that up to €12bn in associated supply chain investment could be located on the Shannon Estuary by 2050.” Said SFPC Chairman David McGarry: “If we grasp this opportunity in the way that today’s announcement indicates we will, we are potentially looking at tens of thousands of jobs right up and down the west coast. A very significant concentration will be here on the Shannon Estuary thanks to our deep-water port, which is essential for supply-chain activity, but the opportunity really is limitless for the wider western seaboard. “As the statutory authority for the Shannon Estuary, we look forward to working closely with both ESB and Equinor to make sure that this new era gets the best possible start as this very exciting initial off-shore floating wind and hydrogen generation plant investment takes hold.”
07 December 2020To view this study click on the following link 20163-R-001 Shannon Estuary Offshore Wind Rev2
07 December 2020Shannon Estuary and West/South coast potential to become global floating offshore wind hub - major study reveals Ireland can become major exporter of energy, producer of hydrogen and international research centre of excellence Monday 7 December 2020: An unprecedented renewable energy opportunity for Ireland, the Shannon Estuary and the south and west coasts has been unveiled in a major study. The Offshore Wind Potential Study - commissioned by Shannon Foynes Port Company - by specialist geotechnical engineering consultancy Gavin & Doherty Geosolutions Ltd. (GDG) identifies the potential, through capitalising on our unique wind resource and deep-water port, to turn the State into an exporter of energy and generate unprecedented job creation in the process. As the floating wind sector is currently in its infancy, there is no well-established supply chain and this represents an opportunity for Ireland to be first movers in the floating wind sector, the report states. The report estimates €12billion investment into the Estuary by 2050 under a medium growth scenario and without including export potential to other markets. The opportunity is a confluence of the emergence of floating offshore wind technology as the biggest growth area for renewables globally, the Irish west coast having among the best wind resources in the world and the unrivalled deep waters of the Shannon Estuary – a key asset and component for the manufacturing and industrial ecosystem necessary to support the global scale floating offshore wind farms The report estimates that the available wind resource can generate up to 70GW of floating offshore wind energy and identifies not alone the export opportunity from excess electricity generated but also for green hydrogen produced from the offshore wind farm sites. “With investment into the Shannon Estuary, there exists huge potential to develop world-class and innovative facilities aimed at growing the floating offshore renewable energy (ORE) sector allied to the manufacturing potential in the Shannon Estuary. Therein exists the potential of dramatically reducing the Levelised Cost of Energy (LCOE),” the report states. It finds that Shannon Foynes is best placed to service the future offshore floating wind market. This is due to the proximity to resource and market; availability of the deepest watercourse in Ireland and one of the deepest and most sheltered estuaries in the world; extensive future landbank availability; and the existence of Shannon Foynes Port Company as a statutory authority with National Tier 1 port status and European Commission, Trans European Transport Network (TEN-T) core corridor status on North/South and East/West corridors and existing 1.6 GW connectivity to our own national grid. “Offshore Floating Wind is rapidly expanding and therefore now is the time to capture the potential from this early-stage sector. Given the timelines to develop the required infrastructure, now is the time to commit the investment and ensure Ireland Inc. capitalises on the global opportunity as first movers in this exciting space. Shannon Foynes Port is the vehicle to maximise the benefits to Ireland Inc. from the floating wind market.” Closer to home, the report identifies the potential to create between 10,000 – 20,000 jobs in manufacturing and a further 10,000 industry jobs arising from four distinct supply chain opportunities – Manufacturing, Staging and Installation, Operations and Maintenance by 2050. Manufacturing could also extend to the preparation and export of component parts further afield to the East coast of USA and into European developments, both onshore and offshore. The study, which was carried out this year, found that the Shannon Estuary is best placed to service the future offshore floating wind market, both the domestic market and as a global exporter of energy and technology. It is, the report states, no surprise that the first Offshore Wind Farm sites in Ireland were all situated on the east coast, as they have fixed foundations. However, as the offshore floating wind technology becomes more efficient and the associated supply chain develops, the west coast of Ireland will become much more favourable. “The total potential capacity on the West coast dwarfs the East coast opportunity,” it adds. However, while floating wind presents an opportunity for Ireland to become a world leader, investment is needed in infrastructure. A large constraint will be the ability of Ireland to connect this resource to the grid and export the excess to other markets, it acknowledges. It also acknowledges the uniqueness of the Shannon Estuary and its potential for Green Hydrogen production, International ship refuelling and export potential of hydrogen and green ammonia. “To facilitate taking a lead in the global market, Ireland needs to apply significant investment in research & development to solve this market barrier along with looking to reduce the cost of floating wind technology,” it states. To this end, the planned International centre of Excellence for Floating offshore wind and its connectivity to our university’s offers a very rare opportunity also. Among the individual challenges that need to be overcome are lack of an overarching Government policy identifying the export opportunity, weaknesses in the planning and consenting process, the construction of new port infrastructure, lack of an integrated approach and other competing countries are getting a head start, such as Scotland, Norway, Denmark, Holland, Belgium, France and Portugal. Gavin & Doherty Geosolutions’ report pinpoints huge potential for manufacturing facilities to be established in Shannon Estuary. It proposes Foynes Port as a Supply Chain Enterprise Park and the other local authority designated strategic development locations consisting of a total of 1200 hectares on the Shannon Estuary for device and component manufacture and assembly. It states that opportunities also exist for the production of green hydrogen using electricity produced from the new Atlantic offshore wind farms. Welcoming the report, Pat Keating, CEO of Shannon Foynes Port said: “This report quantifies for the first time the unique floating offshore wind opportunity that exists for Ireland and not just for this region. The mix of our world-class wind resources, the natural infrastructure here for a global manufacturing and industry base and climate change adds up to what is an unprecedented opportunity that we must capitalise on. There is already significant interest in this from global energy players and we would anticipate generating a gigawatt of energy by the turn of the next decade. This would very much be a phased programme rivalling anything on an international scale but will transition Ireland to a global renewable energy leader. It will deliver our own energy requirements through renewable resources, replacing fossil fuels in the long term, but will also see Ireland become becoming a significant exporter of energy into the bargain.” Said Chairman of Shannon Foynes Port David McGarry: “A Danish study has recently calculated that every gigawatt of offshore renewable energy produced will support up to 14,600 jobs in the Danish economy. The calculations are easy to do from there and even if we target only half of the estimated 70GW potential off the West Coast, there’s a huge economic and jobs bounce from this as well. This can be transformational for the Irish economy and our environment. Floating technologies are relatively new in the offshore renewables sector and, coupled with the Atlantic’s mean wind speeds of 14m/s, we have global first mover advantage with this.” Said Minister Patrick O’Donovan: “This report underlines the unprecedented opportunity that awaits us now that floating offshore wind technology is ready. It’s only a matter of time before we see its commercial deployment here off the Shannon Estuary given the unrivalled mix here. It is perhaps our greatest ever opportunity and will be transformational with regard to the economic balance on the island of Ireland, spreading huge investment to the western half of the island and delivering on the goals of Project Ireland 2040.” Said Minister Niall Collins: “There’s been a general awareness for some time of potential from floating offshore wind generation for the West coast but this study sets out the scale of the opportunity and it’s unprecedented. It’s incumbent now on all stakeholders to work together to make sure we do what’s necessary to build out this enormous opportunity for Limerick, the region and, indeed, the nation. The economic, jobs and environmental gains are far too great for this not to be realised.” Said Deputy Brian Leddin: “The Shannon Estuary and West of Ireland, as this report shows, has a solution that goes way beyond meeting climate change targets. Our programme for government has already paved the way for this as it has a clear and unambiguous commitment to harnessing the potential of the Shannon Estuary for economic development through renewable energy resources. That opportunity has now arrived. We must now leave no stone unturned in realising this. This can catapult Ireland into the top tier of renewable energy generation and export nations.”
11 September 2020It was a pleasure to brief our Minister of State, attending Cabinet, with responsibility for International & Road Transport & Logistics, Hildegarde Naughton TD on her visit our head office in Foynes yesterday.
SFP ECONOMIC IMPACT
economic imPact of all sfpc
port related activity
GENERATED IN REGION
INVESTED IN THE LAST 10 YEARS