Greencoat Renewables and Keppel DC REIT have signed a 10-year wind power purchase agreement (PPA) for two data centers in Dublin, Ireland.

Under the terms of the PPA, Keppel DC REIT will acquire 100% of the electricity generated by Greencoat Renewables’ Ballincollig wind farm, which produces 31.5 GWh of renewable energy annually.

According to Greencoat Renewables, the pay-as-produced PPA provides contracted revenue growth through to 2036 and represents the second PPA signed with Keppel DC REIT.

Since launching its re-contracting strategy in December 2023 — focused on assets exiting feed-in tariff regimes — the company has successfully executed six PPAs totaling over 540 GWh of energy per year. This represents approximately 20% of its projected merchant volumes over the next five years.

Since 2023, Greencoat Renewables has signed six PPAs as part of this re-contracting strategy, with an average duration of over eight years, spanning multiple geographies and technologies. Offtakers include a broad range of leading international companies, including major players in the artificial intelligence and heavy industry sectors, which increasingly rely on clean energy to power their future growth.

The Ballincollig wind farm PPA is a clear example of this strategy in action. The agreement is being executed just ahead of the asset’s exit from its regulated tariff framework next month, and with a counterparty focused on powering its data centers with renewable energy. Amid growing demand for clean electricity, Greencoat Renewables expects to continue signing new PPAs as part of its core strategy.

Paul O’Donnell, Partner at Schroders Greencoat LLP, commented: “This agreement clearly demonstrates our ability to deliver on our re-contracting strategy, securing long-term cash flows and supporting asset value.”