Pharmaceutical giant Novartis has signed a 15-year power purchase agreement with EDP Renewables (EDPR).
The agreement will see the company receive electricity from a 63MW portfolio of renewable energy projects in Spain – the portfolio is made up of a 36MW wind farm and a 26.8MW solar project, which are both expected to be installed by 2023.
With this new contract, EDPR said it has already secured PPAs for projects totalling 229MW to be installed from 2020 to 2023.
Montse Montaner, Chief Sustainability Officer at Novartis, said: “At Novartis, environmental sustainability is aligned with our purpose to reimagine medicine to improve and extend people’s lives.”
Rui Teixeira, Interim Chief Executive Officer of EDP Renováveis, stated: “The announcement of this new PPA demonstrates that we keep a fast progress towards the execution of our business plan but primarily the importance of renewables as a competitive and clean source of energy for our customers across various industries.”