Profits surge at Indaver Ireland on back of rise in energy prices

The company last year paid out a dividend of €18.5m after paying out a dividend of €19m in 2021

Indaver plans to build a waste incinerator in Ringaskiddy in Cork Harbour. However, the Supreme Court upheld a High Court ruling that the application can be remitted back to An Bord Pleanála for fresh consideration. File Picture: Larry Cummins

Pre-tax profits at the waste processing and power generation firm, Indaver Ireland, last year surged by 55% to €32.87m on the back of an increase in electricity prices.

The Belgian-owned Indaver Ireland, which is seeking to build an incinerator at Ringaskiddy, already operates an incinerator at Duleek, Co. Meath, that produces enough electricity each year to power the equivalent of Drogheda and Navan combined.