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Mar 8, 2023
LONDON, UK – March 08, 2023 – Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company™, has significantly increased its backing of renewable power projects with the addition of five new long-term virtual Power Purchase Agreements (PPAs) in Spain totalling 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 centres 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.
The geography of Spain offers solar radiation levels higher than those recorded in other parts of Europe.1 Furthermore, Valladolid, Lérida, Granada and Segovia, where the new projects are planned, have an average solar radiation value above other geographical zones within Spain.
“Equinix is committed to enabling the digital infrastructure that enriches our daily lives while minimising 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.”
Ross Henderson, Senior Director, IBX Operations UK at Equinix, said: “As more companies seek to address climate change and reduce their carbon footprint, Equinix has observed a growing trend of customers moving towards organisations that prioritise renewable energy. This trend has influenced our approach to PPAs, with Equinix actively seeking out and securing renewable energy PPAs. We strongly believe collaborating with our partners and customers to understand their energy needs will enable the company to make informed decisions and identify new opportunities for the data centre industry to achieve climate-neutrality by 2030.”
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. IGNIS has participated in the development of a portfolio of more than 20 GW of renewable projects in Europe, the U.S., Latin America and Asia, and it currently manages an operational portfolio of more than 4 GW of different generation technologies. Schneider Electric, a leading global advisor on corporate renewable energy procurement, supported Equinix in project selection and contract negotiations.
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.
Equinix was the first in the data centre industry to commit to becoming climate neutral, aligned to an approved short-term science-based target, for emissions reduction across its global operations and supply chain by 2030. It is also a founding signatory of the EU Climate Neutral Data Centre Operator Pact, which is leading advocacy and steering the development of sustainability requirements for the EU data centre industry to become climate neutral by 2030.
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About Equinix
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company™. Digital leaders harness Equinix’s trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organisations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the COVID-19 pandemic; the current inflationary environment; foreign currency exchange rate fluctuations; increased costs to procure power and the general volatility in the global energy market; the challenges of acquiring, operating and constructing IBX® and xScale® data centres and developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centres; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
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