29 MAY 2024

Keppel DC REIT and MYTILINEOS sign two 10-year power purchase agreements

MYTILINEOS will provide renewable energy generated from solar farms in Ireland to power Keppel DC REIT’s two Dublin data centres.

Athens, Greece – 29 May 2024 – Keppel DC REIT and MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (MYTILINEOS) have signed two long-term power purchase agreements (PPAs) to provide energy generated from two solar farms in Ireland to Keppel DC REIT’s two Dublin facilities.

The solar farms, strategically located in Gorey, Wexford, an area with one of the highest irradiation regions in Ireland and in Goresbridge, Kilkenny, have a collective capacity of 14.28 Mega Watts (MW) and once completed they will produce ca.
13.6 GWh of renewable electricity per year while displacing more than 6.250 tons of CO2 per year.

Gary Watson, Country Manager Keppel DC REIT (Ireland), said: “As an established colocation data centre provider in Ireland, Keppel DC REIT is committed to achieve Net Zero in its operations in Ireland by 2030, in accordance with Ireland’s Climate Action Plan and its pledge to the Climate Neutral Data Centre Pact. By strengthening our commitment to address climate change, we believe that we can better support our clients’ sustainability goals.”

Including these latest PPAs, about 92% of the combined power requirements at Keppel DC REIT’s two data centres would be met by Irish renewable sources. 

Through the PPAs, MYTILINEOS will deliver about 11% of the Dublin data centres’ total power requirements when the solar farms are completed in summer 2024. Both solar farms are developed by MYTILINEOS’ M Renewables, a global top integrated developer, with a significant track record of successful projects. M Renewables undertook the Engineering, Procurement and Construction (EPC) of the solar parks.

Nikos Papapetrou, Executive Director M Renewables MYTILINEOS, stated regarding the agreement: “This signing of MYTILINEOS’ first PPA in Ireland strengthens the company’s presence in the local renewable energy market and fosters significant growth opportunities. We are proud to partner with Keppel, an international provider of reliable Data Centres across Europe and Asia Pacific, acknowledging the eminent need for green solutions, in a demanding energy market.”

MYTILINEOS has been established and operating in Europe and UK for 10 years and Ireland is an important strategic country for the Company for its solar, storage and hydrogen business. Total capacity of the operational and mature global portfolio of M Renewables, which is dynamically expanding in all five continents, is now c.4.8 GW, while including projects in Early and Middle stages of development, with a capacity of c.5.7 GW, MYTILINEOS’ global portfolio now stands at approximately 10GW.

MYTILINEOS was advised by Matheson and Our New Energy on this transaction.