AIB Signs Ireland’s Maiden Corporate Solar Power PPA – EQ Mag Pro
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Ireland’s AIB has entered a 15-year CPPA with NTR for 21.4 GWh solar power supply
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It will be supplied by NTR from 2 solar farms in Enniscorthy and Gorey in County Wexford
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Clean energy supply will cover up to 80% of electricity requirements for over 270 of its retail and office network in the country
Allied Irish Banks (AIB) says it is the 1st local company to have entered a solar corporate power purchase agreement (CPPA) in Ireland, securing 21.4 GWh clean energy supply from NTR to cover up to 80% of the group’s electricity needs for its retail and office network of over 270 properties.
AIB will be able to source this solar power for 15 years at a fixed tariff, thus hedging itself from escalating electricity prices that are wreaking havoc across Europe currently. NTR will construct 2 solar farms in Enniscorthy and Gorey in County Wexford, which will also provide additional generation capacity into the national grid.
Both the companies said this agreement will contribute to the country’s Climate Action Plan under which 15% of all electricity demand is to be met by renewables contracted under CPPAs by 2030. NTR’s CEO Rosheen McGuckian called CPPAs as an integral part of the solution to drive clean energy transition across Europe where it operates.
“We are delighted to partner with NTR on this innovative project to enable two new solar farms to be built in Ireland, guaranteeing that the electricity we use to power AIB’s own operations will be certified to a fully traceable renewable solar energy source,” said AIB CEO Colin Hunt. “It is also a key enabler to help us achieve our target to be net zero on our own operations by 2030.”
This is another example of corporate uptake of solar gaining ground in Ireland. In September 2022, local pharma company MSD Ireland got a 7.3 MW ground mounted solar PV plant installed at its Ballydine site calling it the country’s largest behind-the-meter or self-generation solar project.
Source: taiyangnews
