Neoen and Equinix sign their first PPA in Italy supporting decarbonization of the local grid

Milan & Paris, 26 November 2024

Neoen and Equinix sign their first PPA in Italy supporting decarbonization of the local grid

▪ Neoen and Equinix sign their first power purchase agreement (PPA) in Italy, securing 53 MW of solar energy for a duration of 10 years

▪ The PPA includes seven projects in Northern Italy, close to Equinix data centers in Milan and Genoa.

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world's leading independent producers of exclusively renewable energy, and Equinix, Inc.  (Nasdaq: EQIX), the world's digital infrastructure company™, have signed a 10-year virtual power purchase agreement (PPA) of 53 MW across seven new-build solar projects. This will support Equinix’s ability to maintain 100% renewable coverage for its International Business Exchange (IBX®) data centers in Italy, while increasing its backing of renewable power projects.

The PPA includes seven Neoen’s projects in Northern Italy, close to Equinix data centers in Milan and Genoa. The solar projects will contribute to Italy’s Integrated National Plan for Energy and Climate Change targets by 2030. 

The PPA is structured under a portfolio approach. It is the first PPA signed between Neoen and Equinix in Italy and the fifth one in Europe over the past three years. These five PPAs represent a total contracted capacity of 210MW across Finland, Sweden and now Italy, a testimony to the strong relationship between the two companies and their continued collaboration in various geographies. This PPA brings Neoen’s total contracted capacity under corporate PPAs worldwide to over 2.8 GW and Equinix’s global capacity under long term renewable energy contracts to around 1.2GW.

Equinix is increasingly focused on expanding the breadth and quality of its renewables portfolio and is proud to have executed 24 Power Purchase Agreements in total to date across Australia, Singapore, India, France, Iberia, Italy, the Nordics and the U.S.— including 15 PPAs signed in 2023 alone. Once operational, these projects are expected to generate more than 3,200,000 MWh of clean energy, equivalent to the amount of energy needed to power more than 850,000 European households for a year.

With teams based in Brescia, Modena and Rome, Neoen has ambitions to become a major player in Italy and a significant contributor to the development of renewable energy in the country and is currently developing numerous solar and storage projects.

Andrea Massimo Bartolini, Neoen Italy’s Director and Head of Business Development said: “We are very pleased to sign our first PPA in Italy, less than 36 months after our establishment in the country and less than 10 months after launching the construction of our first assets in the country. This agreement demonstrates Neoen’s ability to provide reliable, long-term and competitive renewable energy to our local clients. We are very proud to play our part in building a more competitive and sovereign Italy.”

Marco Matarazzo, Director of IBX Operations, Italy at Equinix commented: "Equinix is proud to continue its global programme of sustainability initiatives with the signing of our first power Purchase Agreement in Italy. The backing of the development of seven new solar projects in the country actively contributes to Italy’s decarbonization targets and aligns with our goal of achieving 100% renewable energy coverage by 2030 as well as our commitments to driving positive change and advancing sustainability in the data center industry as a whole."

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Xavier Barbaro, Neoen’s Chairman and Chief Executive Officer, concluded: “I congratulate Neoen’s team on the signing of this new contract with Equinix, whose continued trust is an honor. Our diversified geographic footprint and the rapid growth of our asset portfolio enable us to meet our clients' increasing needs. We are committed to sustaining this strong growth in the coming years, in Italy and around the world.”

About Neoen

Founded in 2008, Neoen is one of the world’s leading independent producers of exclusively renewable energy. With expertise in solar power, wind power and storage, the company plays an active role in the energy transition by producing competitive, green, local energy on four continents. After a six-fold increase in the last six years, its capacity in operation and under construction stands at over 8.7 GW. 

Neoen’s flagship operations are France’s most powerful solar farm (300 MWp) in Cestas, Finland’s largest wind farm (404 MW) in Mutkalampi, and some of the world’s most powerful large-scale storage plants including Collie Battery (219 MW / 877 MWh) and Victorian Big Battery (300 MW / 450 MWh) in Australia. 

A high-growth company, Neoen is targeting 10 GW in operation or under construction in the course of 2025. Neoen is listed in Compartment A of Euronext’s regulated market in Paris (ISIN code: FR0011675362, Ticker: NEOEN) on the SBF 120 and CAC Mid 60 indexes. 

For more information: www.neoen.com

About Equinix

Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company®. Digital leaders harness Equinix’s trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix 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.

For more information: www.equinix.com

Contact                                                                                                                       

                 Neoen   Equinix

Media Relations : communication@neoen.com                                                     Media Relations: press@equinix.com 

OPRG Financial : Fabrice Baron - fabrice.baron@omnicomgroup.com            Equinix investor: invest@equinix.com

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