1st May 2025 16:24
(Alliance News) - Greencoat Renewables PLC on Thursday announced it has signed a new ten-year power purchase agreement with Keppel DC REIT.
The Dublin-based investor in euro-denominated renewable energy infrastructure assets said under the terms of the deal, Keppel DC REIT will buy all electricity generated from Greencoat's Ballincollig wind farm.
The Ballincollig wind farm has an annual output of 31.5 gigawatt hours of renewable energy.
Greencoat notes that the deal is part of its re-contracting strategy, which was launched in December 2023 to focus on assets transitioning out of tariff regimes.
The company has now executed a total of six power purchase agreements for more than around 540 gigawatt hours of energy a year, which represents around 20% of its five-year look forwards merchant volumes.
"This agreement is a clear demonstration of our ability to execute our re-contracting strategy, securing long-term cash flows and supporting asset value. This agreement also further strengthens our position as a trusted partner to leading power buyers, supporting their decarbonization efforts and advancing the energy transition," said Paul O'Donnell, partner at Schroders Greencoat LLP.
"As one of Europe's leading listed owners and operators of renewable energy infrastructure assets, we see significant opportunity in the accelerating energy demand driven by data centre growth and the broader AI-led digital economy. 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."
Shares in Greencoat Renewables were up 2.8% at EUR0.74 in London on Thursday afternoon. The stock is down 13% over the past year.
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Greencoat Renewables