Barry O’Sullivan Highlights Ireland’s Potential to have an Unlimited Supply of Green Energy

Speaking as Guest of Honour at AmCham’s 2023 Mid-West region President’s Dinner, Barry O’Sullivan, Chair of the Shannon Estuary Economic Taskforce said that the Mid-West region is the "ideal location" to build the windfarms that are needed to harvest the power of the Atlantic.

Barry said: “We can export some of that electricity to Europe from Moneypoint, that’s fine, but the bigger opportunity is to create a new Ireland based on an infinite supply of green energy, from offshore wind."

He added: “The world needs to decarbonise as quickly as possible and we can supply green power in the form of electricity, hydrogen, methanol and ammonia.”

Barry also said that Ireland and the Mid-West region has the potential to supply the world with green fertiliser, noting that without fertiliser the planet can only support 4 billion people.

He added: “We can become the data centre of Europe, and we can become the new green Rotterdam, a global transhipment hub between Asia, Europe and the US."

200 guests from some of the largest US multinationals in the Mid-West region attended AmCham’s 2023 Mid-West President's Dinner in Thomond Park. The Dinner was kindly sponsored by Deloitte.

Speaking at the Dinner, AmCham 2023 President Seamus Fives said: “In this room, we have representatives from companies that are among the most successful, most impactful and most innovative in the world. Your companies, along with US MNCs across Ireland, are employing 376,000 people directly and indirectly and spending €31 billion in the Irish economy every year. But this relationship is very much a two-way relationship. In 2022 Irish companies employed 100,000 people across all 50 states in the US, and Ireland was the 9th largest source of FDI into the US.”

He noted that at the 2023 Mid-West Conference he was struck by the commitment of our members to ensure the Mid-West is a global leader, particularly in the areas of research, development and innovation.

He said: “In AmCham’s latest Quarterly FDI Insights survey, 52 percent of respondents said they are currently undertaking at least 1 research project in Ireland, with AI, sustainability, cyber, digital manufacturing and med-tech among the top areas for research.”

He added: “AmCham is continuously working with business, government and key stakeholders to further support and enhance Ireland’s position as a hub for RD&I. In Budget 2024, Government announced that the R&D tax credit will increase from 25 percent to 30 percent. This was a key ask in AmCham’s 2024 Pre-Budget submission, and AmCham believes that this increase will be crucial in maintaining Ireland’s competitiveness as an attractive destination for inward investment. It also showcases Ireland’s commitment to becoming a centre of excellence in research, development and innovation in the long-term.”

Speaking at the Dinner, Karen Frawley, Partner, Deloitte highlighted the importance of bringing companies together at events like the Mid-West Conference and Dinner to share ideas and promote ambition and ensure the Mid-West is seen as a destination of choice for business.