Industrial, Solar - November 20, 2020
Novartis to cover 100% of European operations with Spanish solar VPPAs
Novartis announced Nov. 19 that it will become the first pharmaceutical company to achieve 100% renewable electricity in its European operations through VPPAs following the completion of five such agreements with three developers.
The pharmaceutical company signed five VPPAs that collectively add more than 275 MW of renewable energy to the grid. The agreements will lead to the generation of wind and solar power through six projects across Spain developed by three different providers: Acciona, EDP Renewables and Enel Green Power.
“At Novartis, environmental sustainability is aligned with our purpose to reimagine medicine to improve and extend people’s lives,” Montse Montaner, Chief Sustainability Officer at Novartis, said in a statement. “Energy efficiency and renewable energy solutions are the cornerstones of our strategy for reducing emissions. These agreements mark a major milestone on the Novartis environmental sustainability journey to be carbon neutral across its operations by 2025 and across its value chain by 2030."
The projects should come online by 2023 and begin shrinking Novartis’ carbon footprint across Europe over a 10 year period. Novartis was advised on the project by Schneider Electric and law firm Baker McKenzie.
Novartis is pursuing carbon neutrality across its operations by 2025 and across its supply chain by 2030. Most recently, it addressed 100% of the electricity used in its U.S. and Canadian operations through a VPPA with a wind farm in Texas.