Expanding Renewable Energy Supply in High-Impact Markets, Equinix Executes Clean Energy Contract in Australia

REDWOOD CITY, Calif., Feb. 7, 2024 /PRNewswire/ — After successfully executing Power Purchase Agreements (PPAs) over the past decade in the U.S. and Europe, Equinix, Inc. (NASDAQ:EQIX), the world’s digital infrastructure company®, has executed a new PPA in Australia. The announcement signals a broader industry goal of bringing additional clean power to a region where conditions have traditionally been more challenging for executing renewable energy projects.

“Data center operators and other large corporate energy customers, like Equinix, have accelerated the clean energy transition by executing PPAs and other contracts that create long-term financial stability for developers of wind, solar and other clean energy resources. These clean energy projects have changed the electricity market in the U.S. and Europe. Now high-impact projects like this are helping to lead the effort to drive local demand and shift markets in regions where there is even more opportunity for decarbonization such as Australia, India and Southeast Asia,” said Kevin Hagen, Interim CEO of the Clean Energy Buyers Association (CEBA).

The new PPA in Australia is with TagEnergy and includes the purchase of 151 megawatts (MW) of renewable energy that is expected to come online at the provider’s Golden Plains Wind Farm – East project in 2029. The agreement is Equinix’s first long-term renewable energy agreement in the Asia-Pacific region.

PPAs are financial contracts that bring to market renewable energy projects, such as wind and solar farms, which increase access to clean energy in local energy grids. They are typically contracts whereby consumers of electricity, such as Equinix, agree to purchase from a renewable generator at a fixed price over the duration of a multi-year contract. With a guaranteed …

Full story available on Benzinga.com