REG - Greencoat Renewables - Greencoat Renewables signs Long-Term PPA

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RNS Number : 8962G  Greencoat Renewables PLC  01 May 2025

 

 

Greencoat Renewables signs Long-Term PPA for 100% output at Ballincollig Wind
Farm

 

Agreement forms part of re-contracting strategy enhancing Company's cashflow
profile

 

Dublin, London | 1 May 2025: Greencoat Renewables PLC ('Greencoat Renewables'
or the 'Company') announces the signing of a new 10-year Power Purchase
Agreement ('PPA') with Keppel DC REIT. Under the PPA, Keppel DC REIT will
purchase 100% of the electricity generated from Greencoat Renewables'
Ballincollig wind farm, which has an annual output of 31.5 GWh of renewable
energy.

 

The pay as produced PPA provides escalating contracted revenues through to
2036 and is the second PPA signed with Keppel DC REIT.

Re-contracting Strategy

Since the launch of its re-contracting strategy in December 2023, which
focuses on assets transitioning out of tariff regimes, the Company has
successfully executed a total of six PPAs for over c540 GWh of energy per
annum representing c20% of its 5 year look forward merchant volumes.

 

The PPAs entered into as part of the re-contracting strategy have an average
tenure of over 8 years and span multiple geographies and technologies.
Counterparties include a broad range of leading international companies
including those in the AI and heavy industry sectors who rely on clean energy
to fuel future growth.

 

The PPA for Ballincollig wind farm is an example of the strategy in action,
with the agreement being executed ahead of the asset exiting its regulated
tariff structure next month and with a counterparty focused on powering its
data centre through renewable energy. Amid the growing demand for clean
energy, Greencoat Renewables expects to continue to deliver further PPAs as
part of its core strategy.

 

Paul O' Donnell, Partner, Schroders Greencoat LLP, commented: "This agreement
is a clear demonstration of our ability to execute our re-contracting
strategy, securing long-term cash flows and supporting asset value. This
agreement also further strengthens our position as a trusted partner to
leading power buyers, supporting their decarbonization efforts and advancing
the energy transition.

 

As one of Europe's leading listed owners and operators of renewable energy
infrastructure assets, we see significant opportunity in the accelerating
energy demand driven by data centre growth and the broader AI-led digital
economy. Data centres powered by renewable energy will be a key industrial
enabler for the next phase of economic development. Greencoat Renewables is
strategically positioned to deliver cost-effective, clean power - supporting
the ambitions of our partners and contributing to sustainable economic
growth."

 

--- ENDS ---

 

For further information, please contact:

 

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

 Paul O'Donnell

 John Musk

 FTI Consulting (Investor Relations & Media)
 Sam Moore                                                          +353 87 737 9089
 Aoife Mullen                                                       greencoat@fticonsulting.com (mailto:greencoat@fticonsulting.com)
                                                                    +44 20 7623 2323

 Barclays Bank PLC (Joint Broker)

 Dion Di Miceli

 Stuart Muress

 James Atkinson
 Davy (Broker, NOMAD and Euronext Growth Listing Sponsor)

 Brian Garrahy

 Ronan Veale

                                                                    +353 1 679 6363

 RBC Capital Markets (Joint Broker)                                 +44 20 7653 4000

 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 has also invested
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.

 

 

 

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