Greencoat Renewables signs second deal with data centre company
Wind and solar energy group Greencoat Renewables has signed a second agreement with a Singapore-based real estate investment trust to supply power for its Dublin data centres.
The deal with Keppel DC Reit will run for 10 years, and follows a similar deal signed last year. Keppel will purchase renewable electricity generated from Greencoat Renewables' Ballincollig wind farm in Co Kerry, which has an annual output of 31.5GWh.
A gigawatt hours (GWh) is a unit of energy equivalent to one million kilowatt hours.
The purchase power agreements are part of Keppel's plan to decarbonise the two data centres, in Citywest and Ballycoolin, by 2030 by ensuring the power they use over the next 10 years is sourced from renewable energy.
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The new agreement helps it meet that target ahead of schedule. It also supports Keppel's sustainability target of introducing renewable energy to at least 50 per cent of its co-location assets by 2030.
'Keppel DC REIT (Ireland) is delighted to meet our 2030 target of using 100 per cent Irish renewable energy for our operations five years ahead of schedule,' said Gary Watson, country manager of Keppel DC Reit Ireland. 'We firmly believe that delivering on our commitment will help our clients achieve their sustainability goals and solidify us as their partner of choice'.
Keppel invests in income-producing real-estate assets primarily used for data centres and has been active in the Irish market for the past decade. In 2017, it acquired the Dataplex site in Ballycoolin for €66 million.
This is the sixth power purchase agreement signed by Greencoat Renewables portfolio, covering around 540 GWh of renewable energy per year.
'As one of Europe's leading listed owners and operators of renewable energy infrastructure assets, we see a significant opportunity to provide renewable electricity to the growing Irish data centre market,' said Paul O'Donnell, partner at Schroders Greencoat.
'Our second PPA with Keppel DC REIT further strengthens our position as a trusted provider of renewable energy, supporting our partners with their decarbonisation efforts and advancing the energy transition.'
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