Greencoat Renewables, Keppel agree second 10 year Power Purchase Agreement
Under the terms of the PPA, Singapore-listed Keppel DC REIT will purchase 100% of the electricity generated from Greencoat Renewables' Ballincollig wind farm in Co Kerry, which has an annual output of 31.5 GWh of renewable energy.
The PPA for the Ballincollig wind farm is the sixth PPA within the Greencoat Renewables portfolio and the company said the deal underscores its capability to re-contract assets as they transition out of tariff regimes.
The six PPAs amount to about 540 GWh of renewable energy a year and represent about 20% of Greencoat Renewables five year look forward merchant volumes.
Paul O'Donnell, Partner, Schroders Greencoat LLP, said that as one of Europe's leading listed owners and operators of renewable energy infrastructure assets, it sees a significant opportunity to provide renewable electricity to the growing Irish data centre market.
"Our second PPA with Keppel DC REIT further strengthens our position as a trusted provider of renewable energy, supporting our partners with their decarbonization efforts and advancing the energy transition," he said.
"Looking ahead, data centres powered by renewable energy will be a key industrial enabler for the next phase of economic development. Greencoat Renewables is strategically positioned to deliver cost-effective, clean power - supporting the ambitions of our partners and contributing to sustainable economic growth," he added.
Gary Watson, Country Manager, Keppel DC REIT (Ireland), said the company was delighted to meet its 2030 target of using 100% Irish renewable energy for its operations five years ahead of schedule.
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