Business

Thursday 29 September 2016

Dundrum Town Centre signs green energy deal with Vayu

Published 11/05/2016 | 12:02

Loans tied to Dundrum Town Centre sold for more than €1bn last year
Loans tied to Dundrum Town Centre sold for more than €1bn last year

Dundrum Town Centre has signed a new renewable energy deal with Vayu Energy that will see the Irish supplier cover the centre’s needs with 100pc green electricity.

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Vayu said the deal will see the centre reduce its carbon footprint by about the same amount as taking 640 cars off the road a year.

Under the terms of the new deal Dundrum will be able to avail of lower electricity costs through procurement tools provided by Vayu. Wholesale electricity costs have fallen by 35pc year on year in April.

Dundrum Town Centre director Don Nugent said it is the centre’s ambition to be a “carbon-neutral” scheme.

“Environmental sustainability is very important for us as a company. We take our responsibilities very seriously when it comes to managing the resources we use. We’re delighted that this deal provides us with 100pc renewable electricity, thereby helping to reduce our carbon footprint even further,” Mr Nugent said.

Dundrum Town Centre was sold in September of last year by Nama under the Project Jewel Portfolio. The centre was acquired by two firms namely Hammerson and Allianz Real Estate.

Speaking about the deal Vayu energy specialist Barry Murphy said the Irish energy market is undergoing a fundamental change in the way firms procure their energy.

“Minimising energy costs and achieving greater efficiencies are becoming even greater considerations. This is having a direct impact on the way companies across Ireland source their energy, with an increasing trend among larger users to procure energy directly on the wholesale market,” he said.

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