Greencoat Renewables has signed a ten-year Power Purchase Agreement (PPA) for its Ballybane Phase 1 wind farm with Keppel DC REIT.
Implications of the agreement for Keppel DC REIT
This wind farm, located in Ireland, produces 67 GWh of renewable energy per year. Keppel DC REIT will purchase 100% of the electricity generated by the park, making a significant contribution to its 2030 net zero emissions targets.
Greencoat Renewables’ strategy
With the conclusion of fixed-price incentive schemes and increasing demand for green energy, Greencoat Renewables plans to continue entering into PPAs with highly reputable counterparties, such as Keppel DC REIT, in line with its core strategy.
Paul O’Donnell’s statements
Paul O’Donnell, Investment Manager at Greencoat Renewables, expresses his satisfaction: “We are delighted with our first Power Purchase Agreement with Keppel DC REIT.” He also points out that this collaboration demonstrates Greencoat’s significant ability, as Ireland’s largest operator of wind assets, to supply renewable electricity to the growing Irish data center market.
Long-term impact and market positioning
The successful recontracting of Ballybane Phase 1 illustrates Greencoat Renewables’ ability to create and maintain sustainable value for its investors, strengthening its position in the renewable energy sector.
The PPA agreement between Greencoat Renewables and Keppel DC REIT not only reinforces their commitment to environmental sustainability, but also provides a robust model for the future financing of renewable energy projects.
