Greencoat Renewables agrees 10-Year Corporate PPA
Dublin, London | 18 April 2024: Greencoat Renewables PLC ("Greencoat Renewables" or the "Company") today announces the signing of a 10-year Power Purchase Agreement ('PPA') for its Ballybane Phase 1 wind farm, with Keppel DC REIT.
The wind farm has an annual output of 67 GWh of renewable energy, of which Keppel DC REIT will purchase 100% of the electricity generated, significantly contributing to its net zero objectives for 2030.
The agreement underpins the critical role that renewables have to play in powering demand from the global acceleration of technology, impacted by recent advancements in Artificial Intelligence.
As fixed price incentive regimes conclude and demand for green energy increases, Greencoat Renewables expects to continue to deliver PPAs with large, highly reputable counterparties such as Keppel DC REIT, as part of its core strategy.
Paul O' Donnell, Investment Manager said:
"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.
In successfully re-contracting Ballybane Phase 1, we have demonstrated our ability to create and sustain long-term value for our investors".
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For further details contact:
| Schroders Greencoat LLP (Investment Manager) | | | | | |
| Bertrand Gautier Paul O' Donnell Tom Rayner | | | | | +44 20 7832 9400 |
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FTI Consulting (Investor Relations & Media) | | | | |
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| Melanie Farrell | | | | | +353 1 765 0883 |
| Aoife Mullen | | | | | greencoat@fticonsulting.com |
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Davy (Broker, NOMAD and Euronext Growth Listing Sponsor) Brian Garrahy Ronan Veale | | | | |
+353 1 679 6363
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RBC Capital Markets (Joint Broker) Matthew Coakes Elizabeth Evans | | | | | +44 20 7653 4000 |
About Greencoat Renewables PLC
Greencoat Renewables PLC is an investor in euro-denominated renewable energy infrastructure assets. Initially focused solely on the acquisition and management of operating wind farms in Ireland, the Company is now also investing in wind and solar assets in other European countries with stable and robust renewable energy frameworks. It is managed by Schroders Greencoat LLP, an experienced investment manager in the listed renewable energy infrastructure sector.
For more information about Greencoat Renewables PLC, please visit http://www.greencoat-renewables.com/
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