Equinix Supports Singapore’s Green Plan by Entering a Renewable Energy PPA with Sembcorp

Harnessing cleaner energy sources to accelerate sustainable economic growth

SINGAPORE – April 29, 2024 – Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, today signed its first renewable energy power purchase agreement (PPA) in Singapore with Sembcorp Industries, an energy and urban solutions provider, which will see the offtake from a 75 megawatt-peak (MWp) solar energy project. This strategic move is in line with the Singapore Green Plan 2030 to have all business sectors supported by cleaner energy sources, including data centers.

As part of its long-term renewable energy goals, Equinix prioritizes PPAs when feasible, supporting the addition of new clean energy to grids where it operates. In what is one of the largest data center renewable energy PPAs in Singapore, this long-term PPA, sourced from the Housing Development Board (HDB) SolarNova 7 program¹, will supply renewable energy from solar panels installed across 1,290 HDB blocks and 99 government sites.² This is expected to contribute to Equinix's renewable energy coverage across its data center portfolio in Singapore starting from January 1, 2027.

With the addition of this new PPA in Singapore, Equinix has now executed a total of 22 PPAs globally. These agreements are expected to contribute over 3,000,000 megawatt hours (MWhs) of renewable energy annually to local grids across the US, Australia, France, Finland, Portugal, Spain, Sweden and Singapore once operational.

Raouf Abdel, Executive Vice President, Global Operations, Equinix, said, “Equinix made our commitment to 100% clean and renewable energy in 2015 and since then, we have been continuously exploring new opportunities to scale and improve the quality of those resources. Our recent PPA agreements in Singapore and Australia are significant steps toward our 2030 goal of 100% clean and renewable coverage globally.”

Apart from renewable energy, Equinix actively explores opportunities to drive energy efficiency for its data centers. Most recently, Equinix collaborated with the Centre for Energy Research & Technology (CERT) at the National University of Singapore (NUS), to explore the viability of hydrogen for sustainable power generation. The study provides data center operators with additional insights they need to help make an informed decision when implementing alternate fuel supply systems in data centers.

Yee May Leong, Managing Director, Singapore, Equinix, said, “I’m thrilled to witness yet another green milestone that Equinix has achieved in Singapore to support the energy reset pillar of the Singapore Green Plan 2030. By harnessing the potential of renewable energy sources locally, Equinix will be able to meet AI requirements sustainably and help businesses keep up with the rapid pace of digital innovations to support the Singapore digital economy.”

Vickrem Vijayan, Head of Energy Commercial, Singapore, Sembcorp, said, “We are pleased to support Equinix with its first renewable energy PPA in Singapore, as it transitions towards its 2030 sustainability goals. Our unique suite of competitive and green energy solutions will underpin Equinix’s sustainability efforts and environmental stewardship within its data centers, which are a fast-growing cornerstone of the digital economy.”

Highlights/Key Facts

• Renewable Energy PPAs are contracts (which can be long-term) between electricity buyers and energy generators like wind and solar farms. These agreements are a high-impact way for data centers to procure renewables and support the addition of new renewable energy sources to local markets.
   
• In 2015, Equinix was the first in the data center industry to set a 100% clean and renewable energy coverage goal by 2030. In 2021, it further committed to becoming climate neutral,  aligning to an approved near-term science-based target for emissions reductions across its global operations and supply chain by 2030.
   
• To date, Equinix has achieved 96% renewables coverage across its global operations. In Asia-Pacific, Equinix reached 100% renewables coverage across its operations in China, Hong Kong, India, Japan, Korea and Singapore.
   
• Equinix started its PPA program in 2015 with two wind PPAs in Texas and Oklahoma for 225 megawatts (MW). In late 2021 and early 2022, Equinix signed three PPAs in Finland for a total of 144 MW of new-build wind capacity projects, and in 2023, it added 15 new wind and solar PPAs in Europe, including Sweden, Spain, Portugal and France, in excess of 500 MW. Earlier this year, Equinix signed a PPA in Australia with global clean energy enterprise, TagEnergy to support 151 MW of wind power being added to the grid.
   
• Equinix’s data centers in Singapore are certified under one or more green building standards including the BCA-IMDA Green Mark for Data Centers Platinum Award. 

Additional Resources

• Equinix and NUS College of Design and Engineering Explore the Viability of Hydrogen for Sustainable Power Generation (press release)

• Equinix Signs its First Renewable Energy PPA in Australia with TagEnergy [press release]

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 organizations 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 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 centers 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 centers; 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.

Media Contact (Asia-Pacific)
Equinix
Annie Ho
annho@ap.equinix.com

Media Contact (Singapore)
TEAM LEWIS
Geneva Pichay
+65 9648 4254 
equinixSG@teamlewis.com