REG - Greencoat Renewables - Greencoat Renewables agrees 10-Year Corporate PPA

Greencoat RenewablesAnnouncement

18/04/2024 07:00

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RNS Number : 0483L  Greencoat Renewables PLC  18 April 2024

 

 

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".

 

 

--- ENDS ---

 

For further details contact:

 Schroders Greencoat LLP (Investment Manager)
 Bertrand Gautier                                                   +44 20 7832 9400

 Paul O' Donnell

 Tom Rayner

 FTI Consulting (Investor Relations & Media)

 Melanie Farrell                                                    +353 1 765 0883
 Aoife Mullen                                                       greencoat@fticonsulting.com

 Davy (Broker, NOMAD and Euronext Growth Listing Sponsor)           +353 1 679 6363

 Brian Garrahy

 Ronan Veale
                                                                    +44 20 7653 4000

 RBC Capital Markets (Joint Broker)

 Matthew Coakes

 Elizabeth Evans

 

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/ (http://www.greencoat-renewables.com/)

 

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