Energy Efficiency, GHG Emissions, Finance, Wind - December 20, 2023
Equinix Allocates $4.9 Billion for Energy Efficiency, PPAs
Equinix, Inc., a digital infrastructure company, announced the full allocation of $4.9 billion in investment-grade green bonds for green building projects, energy efficiency and Power Purchase Agreement (PPA) projects.
Since 2020, six bond offerings have been issued by the company. As of the end of June 2023, all bonds have been fully allocated to advance its progress toward its near-term science-based target to become climate neutral by 2030.
During the past five years, the bond offerings supported 172 green building projects across 105 sites, 33 energy efficiency projects and two PPA projects. The PPAs support 225 megawatts of renewable energy capacity which are expected to mitigate or avoid 383,300 metric tons of CO2e annually.
The projects include the following:
- Equinix's Co-Innovation Facility (CIF) in Ashburn, VA, which provides a platform for trialing and showcasing advanced power, cooling and control methodologies—such as fuel cells and liquid cooling—for use in its future data centers
- Equinix's MU4 IBX data center, located in Aschheim, Germany, is designed for optimal efficiency and includes technologies for hybrid cooling and an Aquifer Thermal Energy Storage (ATES) system for efficient storage and recovery of thermal energy
- PPAs with developers to help build new renewable energy resources on the grids where Equinix operates, including the Rush Springs wind farm, a 125-megawatt wind farm in Grady and Stephens Counties, OK, where Equinix made a 15-year commitment and
- The redesign of the chilled water production system at LD5, located in Slough near London.
"Equinix considers green bonds a valuable tool to raise capital and finance large projects that can increase the sustainability of our business. Our green bonds demonstrate Equinix's continued commitment to design, build and deliver the most reliable, secure and sustainable data center and digital infrastructure possible in order to benefit our customers, the communities in which we operate, our investors, and the planet," said Katrina Rymill, SVP Corporate Finance & Sustainability, Equinix in a statement.
In its 2022 Sustainability Report, the company reported that Equinix reached 96% renewable energy coverage across its global portfolio, achieved an operational annual average PUE of 1.46, and reduced its Scope 1 and 2 carbon footprint by 23% since 2019.
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