Silver Hill Foods and Vayu sign €1 million green energy deal
Irish energy supplier Vayu has signed a renewable electricity deal with Silver Hill Foods, one of Ireland’s most successful producers of duck products. Valued at €1m over two years, the agreement will see Vayu supply Silver Hill Foods with 100% green electricity to meet its year-round energy requirements as it continues to expand into new export markets.
Based in Emyvale, Co Monaghan, Silver Hill Foods processes over 3.5 million ducks each year for a range of quality artisan food products. All aspects of duck production are owned and controlled by Silver Hill Foods, from breeding, egg production, hatching and selection to processing and cooking. It also operates a feather plant for production of duck down products, including duvets and pillows.
Silver Hill Foods exports 80% of its products to the UK and continental Europe and recently embarked on an ambitious growth plan aimed at doubling its turnover over the next five years. It is expanding its range of products this year in markets such as in Germany, France, Denmark, Belgium and Netherlands. This will be followed in 2015 by expansion into the UAE, South Africa, Sweden, Iceland and Spain.
The deal provides Silver Hill Foods with direct access to wholesale electricity prices for its three sites in Co. Monaghan, allowing the Company to achieve significant savings compared with traditional fixed rate tariffs in the market. As part of a fully managed agreement, Vayu will provide Silver Hill Foods with the procurement tools and advice to purchase energy at the best price available in the market.
Stuart Steele, Managing Director of Silver Hill Foods, said: “As a food producing business we are very focused on reducing our impact on the environment across all aspects of our business. This is particularly important for us as we continue to expand. Our partnership with Vayu will help us reduce our environmental footprint even further by providing us with green electricity with a 100% renewable rating. Not only does the deal provide us with direct access to sustainable electricity at wholesale market prices, but we are partnering with a Company that has demonstrated a deep understanding and expertise of Ireland’s energy market.”