9th July 2014: Vayu is the only energy supplier in Ireland to achieve a 100% renewable energy rating for all electricity supplied to its customers according to the last annual Fuel Mix and CO2 Emissions report published today. A copy of the report – published jointly by Ireland’s Commission for Energy Regulation and the Northern Ireland Authority for Utility Regulation– is available here.
The report reveals that, for the second consecutive year, Vayu is the only energy supplier in the Republic of Ireland with its entire supply of electricity to customers 100% attributed to renewable sources. In terms of CO2 emissions (Republic of Ireland), the report shows that Vayu has the lowest rating at zero tonnes CO2 per megawatt hour supplied (tCO2/MWh) compared with ratings of 0.386 for Airtricity, 0.407 for Bord Gais, 0.027 for Energia and 0.554 for Electric Ireland.
Vayu, which supplies electricity to Irish businesses, has seen a doubling of its market share each year since it entered the electricity market in 2007. As part of its green energy strategy, the company uses an innovative power purchase agreement (PPA) model to work closely with renewable energy generation projects across the country. A recent example of such a PPA is the renewable electricity deal Vayu signed last month with Bord na Móna valued at €50m over 15 years. Further details can be found here: http://vayu.ie/vayu-signs-e50m-renewable-energy-deal-with-bord-na-mona/
Commenting on the report, Liam Faulkner, Commercial Director at Vayu said: “We are seeing a significant move by Irish businesses toward renewable energy sources as they seek to reduce their carbon footprint and limit the environmental impact of their activities. This will continue to drive investment in renewable sources of electricity in Ireland, with significant knock-on effects on how energy is produced here over the decades to come.”
“The trend toward greater use of renewables is important not only in terms of environmental sustainability, but also in terms of Ireland’s security of supply and long-term economic competitiveness. The good news is that we have an abundant supply of renewable energy resources in Ireland and there is enormous potential for further development, which will be vital if Government targets of 40% renewable generation by 2020 are to be met.”
Vayu is a leading independent supplier of electricity, natural gas and renewables; offering the widest range of tailored procurement solutions to industrial and commercial customers in Ireland, the UK and the Netherlands. The company has been in operation since 2003 and since its beginnings as a business natural gas supplier has steadily grown and now supplies over 20% of Ireland’s largest natural gas business users. Vayu’s customer now includes companies such as Tesco, Bulmers, FMC, IBM, and DHL among its growing client base.
In 2007, Vayu launched its electricity supply business and have seen our market share double each year. International commodity group Glencore is the largest shareholder in the business. Vayu puts itself in its customers’ shoes, and thinks about their energy requirements from their point of view. The team’s experience and specialist energy expertise means they can quickly get to grips with what customers are looking for – and how best to deliver it.
Vayu have Power Purchase Agreements (PPAs) in place with developers of renewable energy projects including onshore wind, landfill gas, hydro and biomass. Vayu understands the complexities of renewable projects – from the existing AER (Alternative Energy Requirement) projects and new REFIT arrangements to putting the right agreements in place between developers and financial institutions.
For further information:
Eoin Quinn Tel: +353 (0) 1 6798600
Weber Shandwick PR Mob: +353 (0) 87 233 2191