The Republic could develop a €2.55 billion a-year sustainable aviation fuel (SAF) industry by 2050, a report published on Wednesday claims.
The EU wants SAF to make up 6 per cent of the fuel supplied by airports by 2030, and to increase that share to 70 per cent by 2050.
A new report from Sustainable Flight Solutions Ireland and SAF manufacturer, SkyNRG with the backing of aircraft manufacturer, Boeing, and lessors Avolon and Orix Aviation, says meeting these obligations in the Republic could create an industry here with sales of €2.55 billion a-year and employing 1,000 people by 2050, with the potential for exports to increase these numbers.
The study, Ireland’s Sustainable Aviation Fuel Opportunity, states that several policy changes are needed to ensure the Republic reaches that potential.
Planning regulator Niall Cussen: We can overcome the housing crisis, ‘if we put our minds to it’
On his return to Web Summit, the often outspoken chief executive Paddy Cosgrave is now an epitome of caution
Surviving a shake-up: is restructuring ever good for staff?
The Irish Times Business Person of the Month: Dalton Philips, Greencore
They include offering tax breaks and credits, and minimum price guarantees, to encourage production.
Government should also include sustainable aviation in climate action plans, fund research and development, and reform the planning process, says the document.
Simon Coveney, Minister for Enterprise, Trade and Employment, who launched the report, noted that the Government supported EU and international efforts to cut air travel emissions.
The report maintains that fuel made by mixing “green” hydrogen with biologically generated carbon dioxide and SAF made from renewable natural gas would be most suitable for the Republic.
However, it states that the Republic would need to generate excess electricity to allow it produce green hydrogen, which it adds could be possible if the State meets its wind energy pledges by 2030.
The report also recommends that the State tackle congestion on the national grid and invest in hydrogen storage and transport.
