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Ireland has potential for €2.5 billion SAF industry
Ireland has the potential for a €2.55 billion sustainable aviation fuel (SAF) industry by 2050, according to a new feasibility study.
It has the potential to provide up to 1,000 highly-skilled jobs.
These are the findings of a study produced by SkyNRG and SFS Ireland, in a partnership supported by Avolon, Boeing and ORIX Aviation.
The study – Ireland’s Sustainable Aviation Fuel Opportunity – was launched by the Minister for Enterprise, Trade and Employment, Simon Coveney TD, and looks at the key role SAF will play by 2050.
IATA estimates that sustainable aviation fuel will deliver over 60% of the contribution needed to reduce aviation emissions to reach net zero by 2050.
The European Union’s ReFuelEU initiative requires fuel suppliers to blend SAF into the fuel available at all EU airports.
This is from 6% SAF by 2030, to 70% by 2050.
To meet EU mandated SAF volumes alone, Ireland will require approximately 10 SAF plants.
This would create an Irish SAF sector generating revenue of €2.55 billion per annum it estimates.
This could provide up to 1,000 jobs in direct and indirect employment.
The research finds that the biggest opportunity for Ireland lies in Power to Liquid (PtL) production of eSAF, a synthetic fuel.
This is produced by combining green hydrogen with biogenic CO2.
Sustainable aviation fuel derived from bio-based intermediates like renewable natural gas has potential to scale up more rapidly.
Significant progress is required for Ireland to be able to develop eSAF at scale, particularly to ensure there is enough excess renewable power available to produce hydrogen.
“We welcome the proactive approach from the aviation sector to progress its own net zero commitments,” Simon Coveney, TD said.
“This research shows that there are clear future economic benefits from the green economy, which can create new jobs and exciting new business ventures.”
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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