JLL’s Managed Property Portfolio to Be Powered by Renewable Energy
Pinergy signs its largest power purchase agreement to date with JLL
JLL, a leading real estate company, has recently signed a corporate power purchase agreement (CPPA) with Pinergy. This agreement will enable JLL to provide renewable energy to its extensive real estate portfolio, as part of Pinergy’s Guarantee of Origin offering. This announcement comes following the long-standing corporate relationship between JLL’s Property Management Department and Pinergy.
Pinergy’s new Guarantee of Origin offering, also referred to as a Corporate Power Purchase Agreement (CPPA), is an agreement whereby a company can purchase electricity generated from a wind farm or solar farm based in Ireland that is feeding power into the national grid.
100% of JLL’s energy demand in Ireland that is sourced from Pinergy will be met by renewable electricity from wind farms across the country. These wind farms include Lahanaght Wind Farm in Co. Cork, and Beallough Wind Farm, Co Waterford.
By availing of Pinergy's Guarantee of Origin offering over 285 commercial supply points within JLL’s managed property portfolio are now powered entirely by guaranteed renewable green energy. This deal represents Pinergy's largest corporate power purchase agreement to date providing 22gWh sourced from the two Irish wind farms. This transition to green, renewable energy usage is projected to result in carbon emission reductions equivalent to offsetting the emissions from approximately 4,400 round-trip flights between Dublin and New York.
Eric Williams, Sustainability Manager of Property Management at JLL, commented on the CPPA deal, stating, “Pinergy's 'Guarantee of Origin' offering perfectly aligns with JLL's Global ESG and Sustainability mandate, as well as the requirements of our clients and occupiers who seek green, renewable energy solutions. We were initially introduced to Pinergy through our partnership with our preferred energy broker, Wecansaveyoumoney.ie, and I would like to extend a special mention to Ronan Leenane and his team. We eagerly anticipate continuing this partnership and expanding our offerings as our department grows."
Enda Gunnell, Chief Executive Officer at Pinergy said; “We are pleased to announce this new CPPA with JLL, building on our long-standing relationship, this CPPA is testament to JLL’s commitment to leadership and innovation in the property sector. We look forward to continuing our partnership with JLL to support them on their energy transition journey.”
Gunnell continued, “To date we have secured corporate power purchase agreements for more than 150gWh of annual Irish wind generation under our Guarantee of Origin offering and we expect to see demand for this offering grow substantially in the coming years.”
Pinergy’s Guarantee of Origin offering supports companies as they look to reduce their carbon footprint ensuring they now have a traceable energy system in place for their portfolio from a chosen renewable facility in Ireland.