Greencoat Renewables enters into an agreement with tech firm following purchase of solar farm 

Elsewhere, utility company Energia entered into a corporate power purchase agreement with Microsoft for for an onshore wind farm in Monaghan. The new 49 megawatt (MW) wind farm consists of eight wind turbines supplied by GE Renewable Energy.

Paul O'Donnell, partner at Schroders Greencoat, said “as the largest operator of wind assets in Ireland, we remain focused on delivering purchasing power agreements” with large counterparties.

Greencoat Renewables has purchased a Meath-based solar farm from developer Statkraft and entered into a power purchase agreement with a tech firm to ensure long term cashflow at the site.

The name of tech firm has not yet been disclosed, but Greencoat Renewables said it is “one of the world’s leading technology companies.” Greencoat Renewables acquired a 50% stake in the in the 80.5 megawatt peak (MWp) farm, a unit of measurement for power from solar or wind where the output may vary according to the strength of sunlight or wind speed.