Leading global law firm Baker McKenzie has advised Equinix, the world’s digital infrastructure company, on its first European virtual power purchase agreement (VPPA), for upwards of 30 MW of wind energy. The Björkliden wind farm, located in Finland, is being developed by a joint venture between Neoen and Prokon and will have a total capacity of at least 35 MW. Its construction is scheduled to begin in 2023, with commissioning to follow in 2024. Under a 10-year agreement, Equinix will purchase 85% of the green energy and guarantees of origin to be produced by the Björkliden wind farm.
The Firm provided advice to Equinix throughout the process, from the negotiations of the term sheet to the development of the VPPA documentation.
Commenting on the deal, Graham Richmond at Baker McKenzie said: "It was fantastic to be able to assist Equinix to achieve this important milestone, and a critical step towards Equinix achieving its long term emissions reduction goals in Europe."
The Baker McKenzie team was led from London by Graham Richmond, Saskia Volhard and Olivia Strafford. Finnish law advice was provided by Krogerus, and Schneider Electric, a global specialist in energy management, acted as advisor on the project.
Baker McKenzie has long pioneered the development of Corporate PPAs, having released numerous global reports over many years as PPAs have become increasingly popular and sophisticated products across multiple industries as a means of achieving sustainability-related goals.
The Firm provided advice to Equinix throughout the process, from the negotiations of the term sheet to the development of the VPPA documentation.
Commenting on the deal, Graham Richmond at Baker McKenzie said: "It was fantastic to be able to assist Equinix to achieve this important milestone, and a critical step towards Equinix achieving its long term emissions reduction goals in Europe."
The Baker McKenzie team was led from London by Graham Richmond, Saskia Volhard and Olivia Strafford. Finnish law advice was provided by Krogerus, and Schneider Electric, a global specialist in energy management, acted as advisor on the project.
Baker McKenzie has long pioneered the development of Corporate PPAs, having released numerous global reports over many years as PPAs have become increasingly popular and sophisticated products across multiple industries as a means of achieving sustainability-related goals.
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