Article first appeared in Business & Leadership on July 9th 2014
Vayu is the only energy supplier in Ireland to achieve a 100pc renewable energy rating for all electricity supplied to its customers, according to the last annual Fuel Mix and CO2 Emissions report.
Published jointly by Ireland’s Commission for Energy Regulation and the Northern Ireland Authority for Utility Regulation, the report reveals that for the second year in a row Vayu is the only energy supplier in the Republic of Ireland with its entire supply of electricity to customers 100pc 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.
It has been in operation since 2003 when it started out as a natural gas supplier and now counts the likes of Tesco, Bulmers, IBM and DHL among its customers.
As part of its green energy strategy, the company uses a power purchase agreement (PPA) model to work closely with renewable energy generation projects across the country.
“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,” Liam Faulkner, commercial director at Vayu.
“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 Irish Government has set a target of 40pc renewable generation by 2020.