AIB is now buying renewable energy from a solar farm in Gorey in Co Wexford.
Back in 2022, the bank signed a Corporate Power Purchase Agreement (CPPA) with NTR, a developer of renewable energy projects, to source energy from two solar farms in Co Wexford - which NTR has now built.
The second solar farm in Enniscorthy is due to come on stream in the coming months.
Once both farms are operational, the bank said they will provide up to 80% of its electricity needs to service its retail and office network of over 270 properties, while providing additional generation capacity into the national grid.
It said the two farms combined will create 21.4 GWh of new renewable energy.
"We are delighted to see our partnership with NTR now delivering solar energy from a fully traceable renewable energy source and look forward to more solar energy coming on stream in coming months," said Colin Hunt, CEO of AIB.
"The Corporate Power Purchase Agreement is in line with government policy to harness additional private sector investment in renewable energy technologies in Ireland, to ensure security of renewable energy supply and to reduce greenhouse gas emissions as we collectively seek to protect our people, our planet and our prosperity from the negative impacts of climate change,'’ he added.
Given that visible light drives solar panels, the bank noted that Ireland's long summer days, particularly in the sunny south east of the country, make solar an important resource for Ireland to develop.
It said this agreement with NTR will ensure the bank will has a certifiable sustainable energy supply at a fixed price for 15 years.
