Through the contract, Cookstown-based GO Power will meet 30 per cent of NI Water’s metered electricity needs with power generated from renewable sources.
NI Water director of finance and regulation Ronan Larkin said the deal represents “excellent value for money” and will bring it closer to the NI Assembly’s target of 40 per cent of electricity from renewable sources by 2020.
The deal will allow NI Water to use a “portfolio approach” to buying electricity, meaning it can buy different percentages of its load on different dates, taking advantage of low wholesale prices.
This type of arrangement is unusual within Northern Ireland, but it is common practice among the UK water companies.
GO Power managing director Michael Loughran added: “We are delighted to have secured the contract to supply NI Water, the largest individual consumer of electricity in the NI market.
“We look forward to working closely with NI Water and drawing on our skills and expertise to deliver a first class energy product, customer service and account management.”