Equinix, Inc. (EQIX) has significantly increased its support for renewable energy projects by adding five new long-term power purchase agreements (PPAs) in Spain for a total of 225 megawatts (MW). Once operational in 2025, the projects are expected to generate enough energy to match the consumption of 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 worldwide, which is expected to generate nearly two million MWh per year.
The financial benefits of APPs for clean energy generation
“APPs are an important financial structure for promoting carbon-free energy production that would not otherwise occur, as they provide the critical cash flow guarantees that allow developers to obtain the necessary financing from banks,” said Miranda Ballentine, CEO of the Clean Energy Buyers Alliance. “Equinix has not only been a leader through its own projects, but has also used its APP expertise to help other energy customers, project developers and partners accelerate their own learning curves.”
Spain offers higher levels of solar radiation than other parts of Europe. The locations of the new projects have a higher average solar radiation value than other geographical areas in Spain.
An ongoing commitment to innovation and renewable energy production
Raouf Abdel, executive vice president of global operations for Equinix, said the company is committed to promoting digital infrastructure while minimizing environmental impact. Equinix plans to continue to pursue opportunities such as these new solar power purchase agreements and other innovations to support renewable energy generation around the world. The projects will be managed by IGNIS, based in Madrid, an integrated renewable energy group involved in the entire value chain, from development to operation and energy solutions.
