TotalEnergies to Power Data4’s Spain Sites with Renewables

• TotalEnergies inks 10-year green PPA to power Data4’s Spanish data centers, boosting decarbonization and cost certainty amid surging demand for long-term renewables in Spain.

TotalEnergies SE signed a 10-year power purchase agreement to supply renewable electricity to Data4’s data centers in Spain. The deal will deliver clean power to the European operator’s Spanish sites; financial terms, volumes and start date were not disclosed.

The agreement advances Data4’s decarbonization goals and hedges energy costs, while supporting TotalEnergies’ expansion in Iberian renewable power marketing. It underscores rising demand from data center operators for long-term green PPAs in Spain’s fast-growing renewables market.

Will the PPA source new-build Spanish solar capacity, with storage and Guarantees of Origin?

• New-build solar: Not disclosed. Tenor and positioning suggest it could underpin new-build Spanish PV, but confirmation from the parties is needed.
  
• Storage: Not announced. Most Spanish PPAs still exclude co-located batteries; unless specified, assume no storage. Hybrid PV+storage is growing but remains the exception.
  
• Guarantees of Origin: Likely bundled GdOs via Spain’s CNMC and the European Energy Certificate System; verify whether annual or granular (hourly) certificates are included.
  
• Additionality: If tied to new-build PV, the deal would provide additionality; otherwise it may rely on an existing portfolio. Ask for COD-linked milestones.
  
• Delivery model: Could be physical sleeving through a retail arm or a virtual/financial PPA with balancing; shape/basis risk terms will determine firmness of supply.
  
• Timelines: If new-build, start could align with a 2025–2027 COD window; sourcing from existing assets could commence earlier.
  
• Regulatory context: Spain enables GdOs with pilots for hourly issuance; data centers increasingly request 24/7-matched certificates—clarify if this is part of the deal.
  
• Storage economics: With no broad capacity market, storage is usually financed via ancillary/arbitrage revenues; inclusion in a PPA would require separate terms—seek MW/MWh specs if present.
  
• Curtailment: Midday PV curtailment risk is material; PPAs may include curtailment allocation—ask how this is handled and whether batteries are used to mitigate.
• What to confirm: Asset status (new-build vs existing), project locations, start date and volumes, GdO structure (bundled, hourly vs annual), storage inclusion and specs, delivery (sleeved vs virtual), and commissioning milestones.