Greencoat signs 10-year deal to supply power to two Dublin data centres

Dublin-listed wind and solar energy group Greencoat Renewables has signed an agreement with a Singapore-based real estate investment trust to supply power to its two data centres in the capital.

The Irish group will supply Keppel DC REIT, which operates two centres at Citywest and in Ballycoolin Industrial Estate in Dublin 11, with up to 67 gigawatt-hours (GWh) of renewable energy annually, generated by its wind farm at Ballybane in Co Cork.

The power purchasing agreement (PPA) will run for 10 years and support the Singapore-listed property investor’s efforts to decarbonise the two data centres and run them with 100 per cent Irish renewable power by 2030, the companies said in a statement on Thursday.

Gary Watson, Ireland country manager at Keppel DC Reit, said the deal is “transformational” for the business. “It will help us achieve our commitments to be Net Zero by 2030 in accordance with Ireland’s Climate Action Plan and our pledge to the Climate Neutral Data Centre Pact. We also firmly believe that delivering on our commitment will help our clients to achieve their sustainability goals and solidify our status as their partner of choice”.

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Paul O’Donnell, partner at Schroders Greencoat, said the partnership is a “significant opportunity” for the Dublin-listed group, “the largest operator of wind assets in Ireland”.

Keppel, which invests in income-producing real-estate assets primarily used for data centres, has been active in the Irish market for the past decade, most recently acquiring the Dataplex site in Ballycoolin for €66 million in 2017.

Greencoat, meanwhile, has been in expansion mode of late, completing four acquisitions totalling €524.3 million last year and increasing its portfolio to 39 renewable generation and storage assets across six European markets.

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