a day ago
New Flogas deal brings wind energy to medium and large businesses
Flogas, which is owned by DCC, has announced a new partnership with Ørsted Onshore Ireland, which will enable businesses to directly source renewable electricity from the Knockawarriga wind farm in Co Limerick.
Flogas said the new deal builds on its multi-buyer Corporate Power Purchase Agreement (CPPA) model, which is designed to help medium and large sized companies achieve their net-zero targets.
A Corporate Power Purchase Agreement is where a company agrees to purchase electricity directly from a wind farm or solar farm.
Flogas noted that the demand for renewable CPPAs in Ireland is increasing significantly, driven by the growing number of companies seeking to reduce their carbon footprint, attain budget predictability in an unstable energy market and support their sustainability initiatives.
In its 17 years of operations, the 22.5MW Knockawarriga wind farm has prevented over 33,000 tonnes of CO₂ emissions.
The first six businesses partnered with Knockawarriga wind farm include financial services, insurance, manufacturing, hospitality and food production sectors, and include Walsh Mushrooms Group and Allianz Worldwide Care.
Flogas aims to supply renewable energy to over 20 medium and large sized businesses within the next 12 months through this model, supporting decarbonisation efforts and reducing reliance on imported energy.
John Rooney, Managing Director at Flogas Ireland, said it is often the case that power purchase agreements are for the largest multinationals.
"But this initiative reflects Flogas' vision of "Democratising CPPAs", making renewable energy purchase agreements accessible beyond just the largest corporations, and opening the door for more Irish businesses to take control of their energy future," Mr John Rooney added.
"Businesses can decarbonise their energy consumption in the most stable, predictable and cost competitive manner," he said.
"This market leading CPPA structure will increase electricity supply chain transparency and give control to medium and large companies who want to take responsibility and ownership for their electricity procurement and support local Irish renewable power," he added.
TJ Hunter, Vice President Onshore Ireland UK, Ørsted, said that the company has been operating in the Irish market for decades generating renewable energy for homes and businesses across Ireland.
"Wind farms such as Knockawarriga play a crucial role in Ireland's energy system and every effort must be made by Government and industry to ensure they continue to generate secure local energy for many decades to come," he added.
The Government's Climate Action Plan sets a target that 15% of electricity consumption should come from renewable electricity contracted under CPPAs by 2030.
