Irish banking group AIB has begun purchasing renewable energy from a purpose-built solar farm constructed in County Wexford.
The array in Gorey is now fully operational, while AIB is set to begin purchasing power from a second plant in Enniscorthy due to come on stream in the coming months.
The annual energy generated from these two sites will create additional PV capacity for the national grid and ensure that up to 80% of AIB’s estimated electricity needs will be certified to a fully traceable renewable solar energy source.
The move comes after AIB in 2022 signed a virtual corporate power purchase agreement (vCPPA) with NTR, a developer of renewable energy projects, to source energy generated from two solar farms in County Wexford which NTR has now constructed.
AIB’s advance commitment to purchasing power from these two sites was key to securing their construction and creating much-needed additional renewables capacity on the national grid.
The two solar farms at Enniscorthy and Gorey combined will create 21.4GWh of new renewable energy helping AIB meet its target of delivering on its commitment to ensure 100% of its power requirements come from certified renewable energy sources by 2030.
The output from these two new solar farms will also contribute to the delivery of the Irish government’s Climate Action Plan which has set a target of 15% of all electricity demand being met by renewables generators contracted under CPPAs by 2030.
The agreement also ensures the bank will have a certifiable sustainable energy supply at a fixed price for 15 years.
AIB chief executive Colin Hunt (pictured, left) said: “AIB’s purpose is empowering people to build a sustainable future, and sustainability is at the heart of our Group strategy as we protect our fragile planet from the devastating impact of climate change by reducing our own carbon footprint and helping our customers to do the same.
“We are delighted to see our partnership with NTR now delivering solar energy from a fully traceable renewable energy source and look forward to more solar energy coming on stream in coming months.”