Equinix adds five new long-term PPAs in Spain
Digital infrastructure company Equinix, Inc. (NASDAQ:EQIX) has significantly increased its backing of renewable power projects with the addition of five new long-term Power Purchase Agreements (PPAs) in Spain totaling 225 megawatts (MW).
Once operational in 2025, the projects are expected to generate more than enough power to match consumption at Equinix’s International Business Exchange™ (IBX®) data centers in Madrid, Barcelona and Seville.
The five new projects, along with existing projects, will bring Equinix’s contracted PPA capacity to 595 MW globally, which is estimated to generate nearly two million MWh annually.
“PPAs are an important financial structure to advance carbon-free power generation that would not happen otherwise because they provide the critical guarantees of cash flow that enable developers to obtain the necessary financing from banks,” said Miranda Ballentine, CEO of the Clean Energy Buyers Alliance. “Equinix has not only led through their own projects but has also used their deep PPA expertise to help other energy customers, project developers and partners accelerate their own learning curves.”
“Equinix is committed to enabling the digital infrastructure that enriches our daily lives while minimizing environmental impact,” said Raouf Abdel, EVP of Global Operations for Equinix. “We plan to continue to seek opportunities such as these new solar PPAs and other innovations to support renewable power generation globally.”
The projects will be managed by Madrid-based IGNIS, an integrated renewable energy group involved in the entire value chain, from development to operation and energy solutions.
Equinix continues to evolve its power procurement portfolio to increase the quality of its renewable energy purchases. Priorities include transitioning from certificates to PPAs in all global markets where feasible. Beyond the company’s renewable energy strategy, it continues to evaluate on-site solar opportunities, on-site generation from fuel cells, and other distributed low-carbon technology that fits with the company’s overall global strategy.
The company is currently evaluating additional projects in the Americas, Asia and Europe.
In December 2022, Equinix became the first colocation data center operator to commit to a program to optimize energy use across its global footprint of more than 240 data centers by “adjusting the thermostat” to reduce the amount of cooling provisioned within its buildings.