Vayu signs €50m renewable energy deal with Bord na Móna

June 2014: Vayu is delighted to announce it has signed a renewable electricity deal with Bord na Móna valued at €50m over 15 years. As part of a Power Purchase Agreement (PPA), electricity produced by a new Bord na Móna landfill plant in Co. Kildare will be purchased by Vayu and sold on to its business customers throughout the country. 

The plant, which is located at Bord na Móna’s Drehid facility near Allenwood, will come into operation this year. It will have an annual production of 5.6 megawatts of renewable electricity from gas that is continually produced from the decomposition of waste in the landfill site. 

John Daly, Head of Resource Recovery, Bord na Móna, said “Bord na Móna has invested heavily in new and innovative ways of capitalising on all our resources to create further value and uses. This gas power plant is the result of a transformation in the way we look at spent materials, turning household waste into green energy that in turn helps create jobs and a sustainable electricity supply.” 

Commenting on the announcement, Colm Kennedy, managing director of Vayu, said: “We are delighted to be partnering with Bord na Móna on this project. It’s a great example of the type of initiative that will assist in achieving the Government’s target of 40% renewable generation by 2020. We see enormous potential for renewable schemes such as this to transform the way electricity is produced in Ireland.” 

“On the business side, Vayu is seeing an increasing demand for renewable electricity as companies opt for more environmentally sustainable solutions, looking to minimise their carbon footprint across all aspects of their operations. Access to competitively priced green electricity is moving up the list of priorities and this is changing the way Irish businesses procure energy.” 

“There is no question that renewable energy will be a big part of electricity production in Ireland over the decades to come. This is important not only from an environmental sustainability viewpoint but also in terms of the country’s security of supply and longterm economic competitiveness.” 

“The good news is that we have an abundant supply of renewable energy resources in Ireland. Only a fraction of these have been harnessed to date so there is enormous potential for development.” 

Vayu – Renewable Energy

In 2012, Vayu became the first energy supply company in Ireland to achieve a 100% renewable energy rating for all electricity supplied to its customers according to the latest Fuel Mix and CO2 Emissions report by the Commission for Energy Regulation, the industry regulator. Further details can be found here: http://vayu.ie/products-and-services-gas-and-electricity-business-suppliers/electricity/100-renewable-energy/ 

Vayu has seen a doubling of its electricity market share each year since it expanded into the electricity supply in 2007. 

Last year, Vayu signed a deal with IKEA which will see the retailer sell electricity generated by a new wind farm located in Leitrim to Vayu, which will supply electricity to the retailer’s Dublin and Belfast stores under a 15 year contract. Further details can be found here: http://vayu.ie/ikea-announces-investment-in-new-wind-farm-in-leitrim/ 

*Based on current market electricity prices and calculated over a 15 year term. 

About Vayu

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 22% 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 Xstrata 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. 

June 2014: Vayu is delighted to announce it has signed a renewable electricity deal with Bord na Móna valued at €50m over 15 years. As part of a Power Purchase Agreement (PPA), electricity produced by a new Bord na Móna landfill plant in Co. Kildare will be purchased by Vayu and sold on to its business customers throughout the country. 

The plant, which is located at Bord na Móna’s Drehid facility near Allenwood, will come into operation this year. It will have an annual production of 5.6 megawatts of renewable electricity from gas that is continually produced from the decomposition of waste in the landfill site. 

John Daly, Head of Resource Recovery, Bord na Móna, said “Bord na Móna has invested heavily in new and innovative ways of capitalising on all our resources to create further value and uses. This gas power plant is the result of a transformation in the way we look at spent materials, turning household waste into green energy that in turn helps create jobs and a sustainable electricity supply.” 

Commenting on the announcement, Colm Kennedy, managing director of Vayu, said: “We are delighted to be partnering with Bord na Móna on this project. It’s a great example of the type of initiative that will assist in achieving the Government’s target of 40% renewable generation by 2020. We see enormous potential for renewable schemes such as this to transform the way electricity is produced in Ireland.” 

“On the business side, Vayu is seeing an increasing demand for renewable electricity as companies opt for more environmentally sustainable solutions, looking to minimise their carbon footprint across all aspects of their operations. Access to competitively priced green electricity is moving up the list of priorities and this is changing the way Irish businesses procure energy.” 

“There is no question that renewable energy will be a big part of electricity production in Ireland over the decades to come. This is important not only from an environmental sustainability viewpoint but also in terms of the country’s security of supply and longterm economic competitiveness.” 

“The good news is that we have an abundant supply of renewable energy resources in Ireland. Only a fraction of these have been harnessed to date so there is enormous potential for development.” 

Vayu – Renewable Energy

In 2012, Vayu became the first energy supply company in Ireland to achieve a 100% renewable energy rating for all electricity supplied to its customers according to the latest Fuel Mix and CO2 Emissions report by the Commission for Energy Regulation, the industry regulator. Further details can be found here: http://vayu.ie/products-and-services-gas-and-electricity-business-suppliers/electricity/100-renewable-energy/ 

Vayu has seen a doubling of its electricity market share each year since it expanded into the electricity supply in 2007. 

Last year, Vayu signed a deal with IKEA which will see the retailer sell electricity generated by a new wind farm located in Leitrim to Vayu, which will supply electricity to the retailer’s Dublin and Belfast stores under a 15 year contract. Further details can be found here: http://vayu.ie/ikea-announces-investment-in-new-wind-farm-in-leitrim/  

*Based on current market electricity prices and calculated over a 15 year term.

About Vayu

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 22% 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 Xstrata 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.

 

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