Novartis: goes green with five wind and solar deals

(CercleFinance.com) - Novartis has signed five virtual power purchase agreements (VPPAs) in a move that will make the Swiss drugmaker the first pharmaceutical company to achieve 100% renewable electricity in its European operations.


Under the agreements, wind and solar electricity will be generated from six renewable energy projects located in Spain and developed by Spain's Acciona, Portugal's EDP Renewables and Italy's Enel.

The projects are expected to be online by 2023, addressing the company's carbon footprint across its European operations over a period of 10 years from the start of operations, Novartis said.

This is equivalent to removing approximately 113 000 passenger vehicles from the road each year, it added.

The biopharmaceutical group already signed a similar deal with a windfarm in Texas, which currently addresses 100% of the electricity of its operations in the US and Canada.

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