Greencoat Renewables, a leading renewable energy group based in Dublin, has recently entered into a contract with Keppelin DC REIT, a Singaporean real estate investment trust. As per the deal, Greencoat will provide the two data centres of Keppel, located in Citywest and Ballycoolin Industrial Estate in Dublin 11, with a renewable energy supply of up to 67 gigawatt-hours annually. This energy will be produced by Greencoat’s wind farm in Ballybane, in County Cork.
The power purchase agreement (PPA) will be effective for a decade, assisting the Singaporean property investor’s aim to operate its data centres on 100% Irish renewable power by 2030. The companies collectively announced this on Thursday.
Keppel DC Reit’s Ireland country manager, Gary Watson regarded the deal as a “game changer” for the company and expressed his confidence that it would aid them to fulfill their pledge to the Climate Neutral Data Centre Pact and Ireland’s Climate Action Plan. He was optimistic that their commitment to sustainability will enhance their clients’ trust in them.
Paul O’Donnell, a partner at Schroders Greencoat, defined the alliance as a “major opportunity” for Greencoat Renewables, the most significant operator of wind assets in Ireland.
Keppel, which primarily invests in real estate assets designed for data centres and has been active in the Irish market for the past ten years, recently procured the Dataplex site at Ballycoolin for €66 million in 2017.
In contrast, Greencoat has been focusing on expansion recently, with four acquisitions worth €524.3 million last year, thereby extending its portfolio to include 39 renewable power generation and storage assets spread across six European markets.