Neoen and Prokon Sign a Third PPA with Equinix in Finland for at least 57 MW of Wind Energy

Source: 12/21/2022, Location: Europe

Neoen (ISIN: FR0011675362, ticker: NEOEN), one of the world’s leading producers of exclusively renewable energy, and Prokon, a large renewable energy cooperative, are announcing the signing of a new power purchase agreement (PPA) with Equinix, the world’s digital infrastructure company, to provide at least 57 MW of green energy in Finland. This is the third PPA signed by Neoen and Prokon with Equinix, preceded by the Lumivaara and Björkliden wind PPAs, both signed in the past 12-months. The renewable guarantees of origin generated from the project will be allocated to Equinix’s locations in all five of the company’s International Business ExchangeTM (IBX) data centres in Finland.

Under the 10-year agreement, Equinix will be the offtaker for 60% of the output and guarantees of origin to be produced by the future Storbötet wind farm. Located in the Finnish municipality of Uusikaarlepyy, in the central region of Ostrobothnia, Storbötet will have a total capacity of at least 95 MW. Construction of Storbötet is scheduled to begin in 2023, with commissioning to follow in 2025. The electricity generated from the wind farm will be injected into the national grid. Neoen owns an 80% stake in the project, the remaining 20% being owned by Prokon.

The PPA signed with Equinix is partially indexed to market prices. It is Neoen’s ninth corporate PPA in Finland since 2018, proof of the company’s attractiveness to significant international businesses like Equinix, the first data centre company in the world to set a 100% renewable energy target, achieving 95% renewable energy globally in 2021. Equinix also expanded the scope of its climate commitments in 2021 to include both a validated science-based target and a goal to reach climate neutrality across its operations by 2030. This latest renewable energy PPA brings Equinix’s total capacity under long term contract globally to over 350 MW.

Prokon has been active in Finland since 2011, with a wind power project development portfolio of over 900 MW in advanced stages of development. The Storbötet wind farm embodies the vision of Prokon – one of Finland’s leading renewable energy developers – to be a trusted partner for delivering renewable energy to a sustainable society.

Neoen has been present in Finland since 2018 and has built up a large portfolio of assets, now totalling over 700 MW of secured capacity in the country. These assets include the Hedet wind farm (81 MW) and Yllikkälä Power Reserve (30 MW / 30 MWh battery storage), both in operation, the Mutkalampi (404 MW) and Björkliden (40.4 MW) wind farms, currently under construction, as well as the Lumivaara (53 MW) and Storbötet (95 MW) wind farms, whose construction will start in 2023.

Jerri Loikkanen, Managing Director of Neoen Finland, said: “We would like to thank Equinix for their continued trust. We have now signed nine PPAs in Finland, three of which are with Equinix: this highlights our ability to support companies in their decarbonation strategies. As a leading actor in the Finnish corporate PPA market, we are adding new renewable plants in the country and are actively contributing to Finland’s energy independence and carbon neutrality. With our growing local team, we will further accelerate our development in our country.”

Jakob Kjellman, Director of Prokon Finland, said: “We are confident that the local landowners are as pleased as we are at Prokon to collectively contribute to the production of renewable energy.”

Henning von Stechow, CEO of Prokon Regenerative Energies eG, the German parent company of Prokon Wind Energy Finland Oy, added: “Our long-term commitment in Finland continues to pay off. We are excited to competitively power an innovative company with green energy through this additional PPA for Equinix. This confidence in our performance also gives our other wind farm projects in Finland tailwind.”

Sami Holopainen, Managing Director, Finland at Equinix: “More and more companies and countries around the world are finally starting to wake up to the importance and responsibility of environmental sustainability. This is why it makes me so proud to announce the signing of Equinix’s third Finland PPA with Neoen and Prokon. This deal demonstrates once again that Equinix is truly leading the way when it comes to the environment and our support of the renewables industry, helping our customers become more sustainable and reaffirming our commitment to more sustainable power generation as we continue our journey to become climate neutral globally by 2030.”

Xavier Barbaro, CEO and Chairman of Neoen, concluded: “I would like to congratulate our team in Finland for this third PPA signed with Equinix this year. We are proud of the role we are playing in decarbonising the infrastructure that underpins the digitalisation of our world. The fact that customers keep choosing Neoen’s solutions shows that they are among the most competitive and attractive on the market.”

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