SCHNEIDER ELECTRIC S (OTCMKTS:SBGSY) was a notable decliner during Wednesday declining by 1% on relatively high volumes. The stock has been in strong downtrend forming lower tops and lower bottoms over the last couple of months indicative of bears being in control. Schneider Electrics is currently seen taking support at its 50 day moving average. The stock has formed a bearish engulfing candlestick pattern during yesterday’s trading session, which is a negative sign. The oscillator for momentum is showing first signs of strong bearish reversal. Traders see the stock heading to levels of $11.25 if the stock breaches the support level at $11.82.
SCHNEIDER ELECTRIC S (OTCMKTS:SBGSY) worked tirelessly for about two years on identifying opportunities in renewable energy and sustainable planning fields before deciding to help Equinix, Inc.
As per the reports, Equinix, Inc. has been trying to procure three different utility-scale Power Purchase Agreements that can cover all of its data centers in North America and provide them renewable energy.
Insights of Matter
Schneider Electric played a vital role in selecting procurement team, identifying new opportunities, supporting the engagement of stakeholders and facilitating the successful execution of the deal. It was the efficient planning and execution of Schneider that Equinix is confident of increasing its international energy procurement from 30% in the previous year to over 82% by the end of 2016.
It’s not the first time when Equinix has tried to do something related to renewable energy. Earlier in 2015, it announced its long-term goal to attain 100% renewable and clean energy for more than 100 data centers that are spread across 33 different markets. The primary requirement to achieve this goal is to execute PPAs or power purchase agreements. Schneider Electric used its industry experience to negotiate for PPAs that can enable companies like Equinix to deploy clean and renewable energy through large scale projects.
With the help of these PPAs, Equinix managed to buy 105 MWs of solar power that can cover its data centers in California. Additionally, it also contacted two suppliers and a couple of wind farms (in Texas and Oklahoma) to provide a total of 225 MW wind capacity that can cover the remaining load in North America.
The senior management team of Equinix is delighted to have Schneider on its side, which made the entire procedure easy and hassle-free. According to Sam Kapoor, Chief Global Operations Officer, Equinix, the valuable guidance and insights provided by Schneider helped Equinix in moving forward towards its sustainability goals.
Equinix hopes that this decision will help it attain its long-term objectives in the desired manner.