Equinix has issued €1.15 billion ($1.2bn) in green bonds and says it will use the proceeds to advance sustainability initiatives across its business.

The issuance is split into two offerings: a €650 million ($683.4m) principal amount of 3.25 percent senior green notes due by 2031 and a €500m ($525.7m) principal amount of 3.625 percent senior green notes due by 2034.

Equinix intends to allocate an amount equal to the net proceeds from the green bonds to finance or refinance all or part of recently completed or future eligible green projects.

The projects include green building development, renewable energy, energy efficiency measures, resource conservation, and other decarbonization solutions.

"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, our investors, and the communities in which we operate," said Katrina Rymill, SVP corporate finance & sustainability at Equinix.

The issuance follows $750m of green bond offerings completed in September. Equinix has now issued $6.9bn of green bonds, making it a top five issuer of green bonds in the US.

The company issued green bonds worth $1.2bn in 2022 and allocated bonds worth $4.9 billion in December 2023 to 172 green building projects on 105 sites and 33 energy efficiency projects.

Equinix has committed to sustainability practices across its value chain. This is especially apparent in its energy strategy, where it has been a leader in Power Purchase Agreement (PPA) procurement.

In 2024, the company finalized several PPAs. In France, it signed seven 20-year PPAs with wpd to fund the development of seven wind farms, one of the largest PPA deals in France.

In February, the firm signed a 151MW PPA for energy from the 1.3GW Golden Plains Wind Farm in Australia, its first in the APAC region. It followed this with deals in Singapore and India, further bolstering its clean energy procurement in APAC.