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Equinix has announced the signature of a new Power Purchase Agreement with Neoen in Sweden, that will add 15 MW of wind generation capacity to the local grid. The asset, Storbrännkullen Wind Farm, is located in the Swedish municipalities of Ragunda and Sollefteå. The contract will begin in mid-2024.
Power Purchase Agreements (PPA) are a highly impactful way for Equinix to purchase renewable energy at scale, acting as a catalyst for the growth and development of new environmentally friendly power sources in Sweden.
This is Equinix’s first contract with Neoen in Sweden, which the companies plan to replicate for future projects in the country. In total, Equinix and Neoen have signed four PPAs in the past 24-months, following three agreements totaling 142 MW of new wind capacity in Finland signed in late 2021 and 2022.
These repeat deals create critical efficiencies for Equinix and respective renewable energy producers, allowing for shorter contracting timelines and reduced costs.
Equinix was supported on the transaction by Schneider Electric and Holland & Knight.
Sami Holopainen, acting Managing Director for Sweden at Equinix said: “Signing this new PPA with Neoen in Sweden demonstrates Equinix’s focus on long term partnerships with renewable energy companies and reinforces Equinix’s continued commitment to sustainability in Sweden. This contract facilitates the development and operations of a new wind project which will contribute towards Equinix’s renewable goals while also helping further deployment of renewables in Sweden and bring benefits to the local community.”
Christophe Desplats-Redier, Regional Director of Neoen in Europe, added:, “We would like to thank Equinix for their continued trust: it highlights our ability to support companies in their decarbonization strategies. This is our 12th PPA in the Nordics and the 4th signed with Equinix for a total capacity of 157MW. We are also thrilled to be contributing to Sweden’s energy independence and carbon neutrality by adding new renewable plants. With our growing local team, we will further accelerate our development in this country.”
