18th Apr 2024 09:44
(Alliance News) - Greencoat Renewables PLC on Thursday said it has signed a 10 year power purchase agreement for its Ballybane Phase 1 wind farm, with Keppel DC REIT.
Greencoat Renewables is a Dublin-based investor, which backs euro-denominated renewable energy infrastructure assets.
The company said the wind farm has an annual output of 67 gigawatt hours of renewable energy, of which Keppel DC REIT will purchase 100% of the electricity generated, significantly contributing to its net zero objectives for 2030.
"We are delighted to announce our first power purchase agreement with Keppel DC REIT. This partnership evidences the significant opportunity for Greencoat Renewables, as the largest operator of wind assets in Ireland, to provide renewable electricity to the growing Irish data centre market," said Investment Manager Paul O'Donnell.
"In successfully re-contracting Ballybane phase 1, we have demonstrated our ability to create and sustain long-term value for our investors."
Shares in Greencoat Renewables were up 1.6% to EUR0.83 in London on Thursday morning.
By Sophie Rose, Alliance News senior reporter
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