The commercial industrial gas market in Ireland is estimated to have generated revenues of $149m in 2016. This is up from $87m in 2006, indicating an average annual growth rate of 5.6% for the decade.
Between 2006-2016, GDP in Ireland grew by an average of 4.7% p.a. Prior to the global financial crisis Ireland’s economy was booming. It was during this time that Ireland’s economy was referred to as the “Celtic Tiger”, due to an average annual growth rate of over 6.5%. This period of growth was largely a result of an influx of investment, notably from the technology sector, which were drawn to the country’s enticing tax rates.
Report Data: 2018
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The UK and Scottish governments have provided £4.2m in support for the Caledonia Clean Energy Project. This decision has been welcomed by the Scottish Carbon Capture and Storage (SCCS) as, if the Caledonia project is constructed, it would be one of the cleanest fossil fuel power plants in the world.
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