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Greencoat Renewables has signed a ten-year power purchase agreement (PPA) with Keppel DC REIT.
The PPA will see Greencoat Renewables supply all the electricity generated from Ballincollig wind farm in Ireland to Keppel.
The facility generates 31.5 gigawatt hours (GWh) of clean electricity annually.
This pay-as-produced PPA provides increasing contracted revenues for Greencoat through to 2036.
It is the second PPA signed by Greencoat with Keppel DC REIT.
Since initiating its re-contracting strategy in December 2023, targeting assets exiting tariff regimes, Greencoat has signed six PPAs, securing approximately 540GWh of annual energy output. This accounts for 20% of its projected merchant volumes up to 2029.
The PPAs secured through the re-contracting strategy have an average term exceeding eight years and cover a diverse mix of geographies and technologies. Counterparties include a wide range of leading global companies, including those in the AI and heavy industry sectors that depend on clean energy to drive their future growth.
Greencoat Renewables stated that the PPA for the Ballincollig wind farm exemplifies its strategy in action. The agreement was finalised in advance of the asset’s transition out of its regulated tariff structure in June 2025 and with a counterparty committed to sourcing renewable energy for its data centre operations.
Greencoat Renewables anticipates securing additional PPAs as a key component of its core strategy to respond to the increasing demand for clean energy.
Greencoat Renewables is managed by Schroders Greencoat, an investment manager in the listed renewable energy infrastructure sector.
It is an investor in renewable energy infrastructure assets with a portfolio of more than 1.49GW of generation capacity.
Schroders Greencoat partner Paul O’Donnell stated: “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 decarbonisation efforts and advancing the energy transition. As one of Europe’s leading listed owners and operators of renewable energy infrastructure assets, we see a 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.”