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Displaying items by tag: Powering Prosperity

Powering Prosperity – Ireland’s Offshore Wind Industrial Strategy, the first strategy of its kind for Ireland, aims to build a successful, vibrant and impactful offshore wind energy industry in Ireland.

This will ensure that the sector creates as much value as possible throughout Ireland and maximises the economic benefits associated with government ambitions to deliver its 2030, 2040 and 2050 offshore wind targets.

Powering Prosperity, which includes 40 actions that will be implemented in 2024 and 2025, was developed as part of close ongoing collaboration between the Department of Enterprise, Trade and Employment and other Government departments and agencies within the Offshore Wind Delivery Taskforce (OWDT).

These actions aim to build a strong and resilient offshore wind supply chain in Ireland, as well as exploring opportunities for Irish companies to play a major role in the development of offshore wind projects in Ireland and abroad.

It also explores opportunities to leverage Ireland’s existing strengths in RD&I, finding ways to support the sector to reach the cutting edge of future developments in offshore wind.

The era of offshore wind represents a game-changing opportunity for communities right across Ireland and particularly around our coastline. The country’s key deployment and O&M ports can be major industrial hubs of the future transforming regions in the process.

A suite of policies related to the transmission of and demand for OWE and its derivatives also inform this strategy, including the review of the National Ports Policy, which will be conducted by the IMDO on behalf of the Department of Transport. The National Ports Policy provides the overarching policy framework for the governance and future development of Ireland’s State port network and is an important piece of policy development given the role that ports are expected to play in the delivery of offshore renewable energy.

Published in Power From the Sea

About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.