Displaying items by tag: Turnover €6m

14th January 2024

Port of Galway Hits Turnover of €6m as Benefits of Wind Projects Blow Ashore

Turnover rose to almost €6m last year at the Port of Galway, following strong growth in shipping operations linked to transporting inbound components used for onshore based wind projects.

The revenue generated by the port, recently awarded European TEN-T status, have expanded significantly over the last few years due to its involvement in the delivery of renewable energy projects.

Speaking to the Business Post, the port’s Chief Executive, Conor O’Dowd said the port has been key to the completion of several onshore wind energy projects, which combined has also created 150 megawatts.

O’Dowd highlighted that one current project that the Port of Galway is involved with is the Yellow River Wind Farm, a SSE Renewables project to generate 100 megawatt at the facility in Co. Offaly.

He added “from June 2022 to June 2024, we'll do about 350 megawatts through the port. That's a very significant part of Irish energy infrastructure,”.

Asides the port handling wind-turbines, typical cargoes as Afloat has reported include imports in petroleum products and refuse derived fuel (RDF), bitumen and exports in scrap steel, limestone and project cargo.

For more details of the financial year and TEN-T, the Businees Post reports.

Published in Ports & Shipping

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About the Loughs Agency

The Loughs Agency is a governmental body established under the 1998 Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of Ireland. The Agency's goal is to provide sustainable social, economic, and environmental benefits by effectively conserving, managing, promoting, and developing the fisheries and marine resources of the Foyle and Carlingford areas.

The Agency's governing legislation confers several specific functions, including the promotion of development of Lough Foyle and Carlingford Lough for commercial and recreational purposes in respect of marine, fishery, and aquaculture matters. Moreover, the Agency is responsible for managing, conserving, protecting, improving, and developing the inland fisheries of the Foyle and Carlingford areas. Additionally, the Agency has the task of developing and licensing aquaculture, as well as the development of marine tourism.

The Loughs Agency reports to the North South Ministerial Council and its government Sponsor Departments, the Department of Agriculture, Environment and Rural Affairs (DAERA) in Northern Ireland, and the Department of the Environment, Climate, and Communications (DECC) in Ireland. The Departments fund the Agency on an equal basis.

The Loughs Agency's focus on sustainable development is expected to have a positive impact on the economy, environment, and local communities in the Foyle and Carlingford areas. The Agency's efforts to conserve and enhance the region's marine resources, including fisheries and aquaculture, are expected to benefit local communities, promote tourism, and contribute to economic growth.

In conclusion, the Loughs Agency plays a vital role in promoting the sustainable social, economic, and environmental development of the Foyle and Carlingford areas. Its work on marine conservation and development is crucial in ensuring the long-term viability of the region's natural resources and in promoting sustainable economic growth.