Equinix backs five new Spanish solar farms
Equinix has increased its backing of renewable power projects with the addition of five new long-term power purchase agreements (PPAs) in Spain totalling 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 (IBX) data centres in Madrid, Barcelona and Seville.
The five new projects, along with existing projects will bring Equinix’s contracted PPA capacity to 595MW 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."
The geography of Spain offers solar radiation levels higher than those recorded in other parts of Europe, Equinix says.
The locations where the new projects are planned have an average solar radiation value above other geographical zones within the country.
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.
Equinix says it was the first in the data centre industry to commit to becoming climate neutral, aligned to its approved short-term target, for emissions reduction across its global operations and supply chain by 2030.