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RTÉ News
01-05-2025
- Business
- RTÉ News
Greencoat Renewables, Keppel agree second 10 year Power Purchase Agreement
Greencoat Renewables and Keppel DC REIT have signed a second Power Purchase Agreement (PPA) for the supply of renewable energy that will be used to power Keppel's two data centres in Dublin. 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.
Irish Times
01-05-2025
- Business
- Irish Times
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. READ MORE 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.'
