SAN FRANCISCO, April 22, 2020 /PRNewswire/ -- Digital Realty (NYSE: DLR), a leading global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, announced today a new 7.5-year power and renewable energy credit agreement with Citi to supply clean, renewable energy for Digital Realty's portfolio of data centers in the Dallas, Texas region. This contract will advance Digital Realty's environmental and sustainability goals by supplying approximately 30% of the company's power needs in this market.
The transaction provides Digital Realty with over 260,000 megawatt-hours of renewable energy annually, which represents 55% of the wind generation project output being developed by Bearkat Wind Energy II, LLC. The energy provided through the 162-megawatt project in Glasscock County will serve a portion of the power needs of Digital Realty's 13 data centers in the Greater Dallas, Texas region.
"The data center industry underpins the growth of the digital economy, and we believe it is critical for industry participants to recognize the importance of managing the environmental impact of their digital infrastructure," said Digital Realty Chief Executive Officer A. William Stein. "We're dedicated to supporting our customers with sustainable, highly resilient facilities that leverage renewable energy and other energy-efficient technologies. We're proud to be partnering with Citi, a proven leader in sustainable financing, to bring clean, renewable energy to our customers and we look forward to furthering our sustainability strategies with customers across the region and around the world."
The wind power agreement represents another significant step Digital Realty has taken to extend sustainability initiatives across its global portfolio. In early April, Digital Realty was named a 2020 ENERGY STAR Partner of the Year by the U.S. Environmental Protection Agency for its efforts to protect the environment through energy efficiency achievements across its data center portfolio. In 2019, Digital Realty certified an industry-leading 29 data centers under the ENERGY STAR program.
"As more companies like Digital Realty invest in renewable energy, we've committed to supporting them in their environmental endeavors as part of our efforts to accelerate the global transition to a low-carbon economy," said Roxana Popovici, a Managing Director responsible for renewable power transactions at Citi. "This agreement represents an important step in powering Texas data centers with renewable energy and we're excited to be supporting the effort."
The new wind power agreement builds upon Digital Realty's long-term renewable energy strategy. In 2019, the company announced an additional 50 megawatts of renewables to support its data centers in Ashburn, Virginia and signed a green tariff agreement with Portland General Electric which will supply approximately 120,000 megawatt-hours annually to its new development project in Hillsboro, Oregon.
Digital Realty is employing several renewable energy strategies to increase the portion of renewable energy available to power its data centers and locking in advantageous energy pricing for the benefit of its customers. The renewable energy from the Texas project is expected to be available to customers beginning in June 2021.
About Digital Realty Digital Realty supports the data center, colocation and interconnection strategies of customers across the Americas, EMEA and APAC, ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare and consumer products. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and Twitter.
About Citi Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Safe Harbor Statement This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to our power and renewable energy credit agreement with Citi, the expected timing for availability of the renewable energy from the contract, and our sustainability program, strategies and goals. For a list and description of such risks and uncertainties, see the reports and other filings by the company with the U.S. Securities and Exchange Commission. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.