Equinix has announced it has signed five new long-term Power Purchase Agreements (PPAs) with solar farms in Spain, totalling 225 MW.
According to Equinix, the projects – which are expected to be operational in 2025 – will generate enough power to match consumption at the company’s data centres in Madrid, Barcelona and Seville.
Alongside its existing projects, the five new PPAs will bring Equinix’s contracted PPA capacity to 595 MW globally, which is estimated to generate nearly two million MWh annually.
The projects will be managed by Madrid-based IGNIS, an integrated renewable energy group. Schneider Electric also supported Equinix in project selection and contract negotiations.
“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.”
Raouf Abdel, EVP of Global Operations for Equinix, added, “Equinix is committed to enabling the digital infrastructure that enriches our daily lives while minimising environmental impact. We plan to continue to seek opportunities such as these new solar PPAs and other innovations to support renewable power generation globally.”
Equinix’s PPA programme began in 2015 with two wind agreements for 225 MW in Texas and Oklahoma. In 2021 and 2022, Equinix also signed three PPAs in Finland for a total of 144 MW of new-build wind capacity from the Bjorkliden, Lumivaara and Storbotet projects with renewable providers Neoen and Prokon.
The company says it is currently evaluating additional projects in the Americas, Asia and Europe, with intentions to prioritise transitioning from certificates to PPAs in all global markets where feasible.