Science and technology company Merck KGaA, Darmstadt, Germany, has signed power purchase agreements with Matrix Renewables and Renantis, with the guidance of consultancy Altenex Energy, to build five renewable energy projects in Spain as part of its ongoing commitment to meeting its climate targets.
Guidance from global energy advisory company Altenex Energy LLC (dba Edison Energy in the US) played an instrumental role in facilitating the process.
Altenex provided technical expertise to support Merck KGaA, Darmstadt, Germany’s strategic goal to reduce its environmental footprint.
“It is critical for companies to understand their energy supply chain and add to the region’s large-scale renewable energy capacity at a time when we need it most,” said Hannah Badrei, Senior Vice President, Global Energy Advisory, at Edison Energy.
“We are honored to play a role in the rapid transition towards a more energy-independent, renewable Europe.”
The agreement will deliver a total capacity of approximately 130 MW, consisting of two onshore wind projects totaling 37 MW and three PV solar projects totaling over 88 MW.
Locating the projects in Castile and Leon, Spain, is a strategic decision to capitalise on the abundant renewable energy potential of the Iberian Peninsula.
The scale of this project puts Merck KGaA, Darmstadt, Germany, well on track to achieve its climate targets.
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.
With the execution of this deal, Altenex Energy continues to actively help leading science, technology, and pharmaceutical companies navigate the clean energy transition.
In 2022, Edison Energy facilitated power purchase agreements for Bristol Myers Squibb and Takeda Pharmaceutical Company to secure access to 60 MW of solar power and 79 MW of wind power in North America, respectively.
“By purchasing zero-carbon renewable energy, these corporations can help achieve our shared goal of a more sustainable future,” said Badrei.
“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.”