Pharmaceutical company Merck has signed power purchase agreements with Matrix Renewables and Renantis paving the way for five renewable energy projects in Spain.
The agreement will deliver a total capacity of approximately 130MW, consisting of two wind projects totalling 37MW and three solar projects totalling over 88MW.
The virtual PPAs have terms of 10 years each.
Merck will receive sufficient energy certificates (Guarantee of Origin, as issued by the AIB as part of European Energy Certificate System) to fully cover the electricity purchased in 2022 for its three business sectors Life Science, Healthcare and Electronics for all sites in the EU and Switzerland.
Locating the projects in Castile and Leon, Spain, is a strategic decision to capitalise on the abundant renewable energy potential of the Iberian Peninsula.
By 2030, Merck aims to cover 80% of its worldwide purchased electricity from renewable sources and intends to reduce its direct and indirect greenhouse gas emissions (Scope 1 and 2, respectively) by 50% by 2030 from a 2020 baseline.
These medium-term goals are part of the larger commitment to be climate neutral by 2040.
Edison Energy’s European business Altenex provided technical expertise to support Merck.
In 2022, Edison Energy facilitated power purchase agreements for Bristol Myers Squibb and Takeda Pharmaceutical Company to secure access to 60MW of solar power and 79MW of wind power in North America, respectively.
Hannah Badrei, Senior Vice President, Global Energy Advisory, at Edison Energy, said: “By purchasing zero-carbon renewable energy, these corporations can help achieve our shared goal of a more sustainable future.
“Partnerships such as this mark a significant step towards a greener future for the pharmaceutical sector, and we are proud to be at the forefront of this global decarbonization movement.”