Sonnedix, the international renewable energy producer, announces today that a 10-year solar pay-as-produced power purchase agreement (PPA) in Spain has been signed with Equinix. This PPA marks a key milestone for Sonnedix as its largest transaction signed to date in Europe, and its first time establishing a long-term relationship with a global leader in digital infrastructure.
The portfolio consists of three solar photovoltaic (PV) plants in Cuenca, in the region of Castilla-La Mancha, with a total capacity of 150MWp. The solar PV plants are expected to be operational by the end of 2024.
During the 10-year term of the PPA, the PV plants will generate 240,000MWh of green electricity and Guarantees of Origin every year. This is equivalent to energy capable of powering over 71,000 Spanish homes and avoiding emissions of over 36,000 tonnes of CO2 per year.
Axel Thiemann, CEO of Sonnedix, commented: “We are very fortunate to work with Equinix as we continue to expand sustainably in Spain, where we have over 800MW of operating capacity. This transaction contributes to our accelerating conversion journey at Sonnedix, demonstrating we can operate at scale and build the relationships that allow us to do so consistently.”
Sonnedix has a total capacity of over 9.4GW around the world, including a development pipeline of more than 6GW, with 1.32GW in Spain alone. For more than a decade, Sonnedix has been committed to helping Spain attain its renewable energy targets, and contributing to becoming one of Europe’s leaders in the energy transition.
On this transaction, Sonnedix was advised by Watson Farley Williams as legal advisor.
Equinix is a digital infrastructure company that operates more than 240 data centers across 32 countries. The company enables organizations to access all the right places, partners, and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.