Equinix, Inc, the world’s digital infrastructure company, has significantly increased its backing of renewable power projects with the addition of five new long-term Power Purchase Agreements in Spain totaling 225 megawatts. Once operational in 2025, the projects are expected to generate more than enough power to match consumption at Equinix’s International Business Exchange 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.”
Also Read: Next bridge hydrocarbons, inc. Provides operational update
The geography of Spain offers solar radiation levels higher than those recorded in other parts of Europe.1 Furthermore, the locations 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 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. 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.
SOURCE: PR Newswire