Greencoat Renewables and Keppel DC REIT have signed a power purchase agreement (PPA) for the supply of renewable energy to two data centres in Dublin, Ireland. Under the terms of the agreement, Keppel DC REIT will purchase 100% of the electricity generated by Greencoat Renewables’ Ballincollig wind farm in County Kerry, which produces 31.5 gigawatt-hours (GWh) of renewable energy annually.
This marks the second PPA between the two companies. The new agreement, along with all other PPAs signed by Keppel DC REIT and its partners, will ensure that 100% of the electricity consumed at Keppel DC Dublin 1 and Keppel DC Dublin 2 is sourced from renewable energy for the next 10 years.
The deal aligns with Keppel DC REIT’s sustainability goals, particularly its target to source renewable energy for at least 50% of its colocation assets by 2030. The company also aims to expand the use of renewable energy throughout its portfolio.
“This agreement demonstrates our commitment to sustainable operations, and we are pleased to achieve our 2030 target of using 100% Irish renewable energy five years ahead of schedule,” said Gary Watson, Country Manager at 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.”
For Greencoat Renewables, this PPA is the sixth in its portfolio, highlighting the company’s strategy of re-contracting assets as they transition out of tariff regimes. The six PPAs collectively amount to 540GWh of renewable energy per year, representing 20% of the company’s five-year look forward merchant volumes.
Paul O’Donnell, Partner at Schroders Greencoat, commented, “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. Our second PPA with Keppel DC REIT further strengthens our position as a trusted provider of renewable energy, supporting our partners in their decarbonization efforts.”
The PPAs signed by Greencoat Renewables as part of its re-contracting strategy have an average tenure of eight years and span multiple geographies and technologies.
