| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM

Irish Government to invest €200 million in Energy R&D
By Finfacts Team
Mar 6, 2008 - 4:51:37 PM

Email this article
 Printer friendly page

The Taoiseach Bertie Ahern announced today what he termed "a major new initiative", which will see Science Foundation Ireland adding sustainable energy as a third sector which it will now target for investment. He said Energy is a key part of the Government's Strategy for Science, Technology and Innovation, which in turn is strongly reflected in sectoral investment under the National Development Plan. The Government will be investing in the order of €200 million in energy related Research and Development over the coming years.

Speaking at a conference on sustainable energy in Dublin, Ahern told the Energy Forum 2008 that "currently 90% of our energy comes from imported fossil fuels. This is an extremely high exposure - the average import figure for other EU countries is closer to 65%. Around 60% of the energy we use comes from imported oil products. We are using 165,000 barrels of oil each day, which is some ten pints of oil for every man, woman and child each and every day of the year."

The Director General of Science Foundation Ireland, Prof. Frank Gannontoday welcomed the decision announced by the Government at the Energy Summit to extend the remit of SFI to include the broad thematic area of sustainable energy and energy efficient technologies.

Commenting of the Government's decision Professor Gannon, stated “The provision of sustainable energy and efficient energy technologies is a vital component of long-term economic development for Ireland. SFI funds high quality frontier research across a broad range of sectors and particularly in the areas of Biotechnology and Information and Communications Technology. In the process we support both novel research and the training of high quality scientists and engineers. This funding and the extension of the remit will facilitate further the investment and the building of further capacity in high quality research in this essential thematic sector. SFI is looking forward to the challenge of addressing these issues and others set down in the Government Strategy for Science Technology and Innovation (SSTI). This investment should enable Irish based researchers to make an important contribution to this global issue and bring economic benefits to Ireland.”

 Eamon Ryan, the Minister for Communications, Energy and Natural Resources, who hosted the forum, said it marked a demonstration of the cross-Government commitment to the new energy era.

Ryan also unveiled a study by Sustainable Energy Ireland on the benefits of energy efficiency to the Irish economy. It found that by meeting the 2020 national energy efficiency target, the economic benefits will outweigh the costs by close to €300 million per annum.

The analysis shows that thevarious sectors could reduce their energy use by one quarter based solely on actions that pay for themselves through their energy cost savings. This economic savings potential equates to a CO2 emissions reduction of over six million tonnes. The study also shows that these savings could reduce peak electricity demand by over 1200 MW, bringing significant benefits to the Irish electricity system.

Both the Minister's Department(a press release announcing publication, has been uploaded) nor its agency Sustainable Energy Irelandhave bothered to update the report on their websites.

Related Articles
Related Articles

© Copyright 2007 by Finfacts.com

Top of Page

Latest Headlines
Ryanair revises up full-year profit guidance
AIB bank profitable in third quarter
Ryanair announces half-year profits up 32% to €795m
Ryanair benefits from improved customer service
Ryanair to buy 100 new Boeing 737 MAX 200
Finfacts server migration Thursday
State-owned Allied Irish Banks reports H1 2014 profit as bad loan charges plunge
Ryanair reports profit in its financial first quarter soared 152%
UK firm opens van dealership in Dublin
Ryanair reports 8% fall in full-year profit; US services to commence in 2019
Global Financial Centres Index: New York overtakes London; Dublin slips to 66 of 83 cities
Bank of Ireland reports “significant” improvement in 2013 results
Sale process of IBRC UK projects Rock and Salt completed
CRH says 2014 will be year of profit growth after reporting 2013 loss
Ryanair reports third-quarter loss
Irish Water says it saved €100m in setup costs
RSA Insurance fires two Irish executives for large loss/ accounting irregularities
Bank of Ireland will have to raise provisions by €1.4bn; AIB says it's "well capitalised"
CRH reports slightly improved third quarter
Central Bank says ownership of Newbridge Credit Union transferred to permanent tsb
Ryanair reports H1 profits rose by 1% to €602m
Dublin Web Summit: Irish Stock Exchange and NASDAQ OMX announce dual listing plan
Irish pension managed funds returned to growth during September
Dan O’Brien resigns as economics editor of The Irish Times
Central Bank says no action required on Anglo tapes revelations
Ryanair flew 9m passengers and Aer Lingus carried 1.1m in August
UK Competition Commission says Ryanair must cut Aer Lingus stake to 5%
CRH reports H1 2013 revenue dip and loss
Vodafone refunded UK after discovery of Irish tax haven deal
RBS reports half year profit; Ulster Bank posts reduced loss
Bank of Ireland cuts pretax losses in HI 2013 to €504m
Irish State-owned Allied Irish Banks reports losses of €758m in H1 2013
Service Announcement
Irish managed pension funds declined in June
VHI reports 2012 surplus of €54.3m; Health insurance made loss
Ex- Elan director says management / board "not competent to run a business"
Aer Lingus to put €140m in employees pensions fund; Ryanair apoplectic
Wednesday Newspaper Review - Irish Business News and International Stories - - May 22, 2013
Tuesday Newspaper Review - Irish Business News and International Stories - - May 21, 2013
Ryanair, Europe’s biggest low cost carrier, announced Monday record annual profits of €569m - - up 13%