ODREM signs €2.6m energy deal with Horizon
Published 29/11/2016 | 02:30
Dublin-based O'Dwyer Real Estate Management (ODREM) has signed a €2.6m deal with Horizon Energy Group that will see over 200 of its managed properties powered with green energy.
The four-year 28.8-gigawatt deal will yield savings of 15pc for O'Dwyer Real Estate Management (ODREM) customers over the next four years.
The green energy solution will save in excess of 15m Kgs of CO2 over the contract period, which is the equivalent of taking over 9,200 cars off the road.
Horizon will manage the hedging strategy for the four years, ensuring ODREM gains the maximum benefit from wholesale prices.
ODREM chief executive Siobhan O'Dwyer said the deal was good news for its clients.
"Finding the right energy supplier is extremely important, as it directly affects landlord and tenant occupational property costs.
"For example, one client in Dublin will see €2,500 wiped off its energy bill in the first three months. So this deal brings real value to our clients," she said.
Horizon services the energy needs of over 70,000 sites across the island of Ireland.
The company manages the procurement of over €1bn in energy spend across its client base.
Chief executive Colin Barry welcomed the deal.
"Our tailored product offering has ensured a competitive renewable contract for ODREM ahead of the Integrated Single Electricity Market which comes into force as directed by Europe at the beginning of 2018," Mr Barry said.