Sandoz Signs 10-Year 150MW Solar PPA in Spain

Sandoz, a global leader in generic and biosimilar medicines headquartered in Switzerland, has signed a 10-year virtual Power Purchase Agreement (PPA) with Elawan Energy to develop new solar projects totaling 150 MW in Valladolid, Castilla y León, Spain. This partnership is expected to supply nearly 90% of the electricity demand for Sandoz's European operations, marking a significant step in the company's decarbonization and sustainability strategy. The move aligns with Sandoz's commitment to climate action and reducing its environmental footprint, complementing other global efforts to decarbonize electricity use at its production sites. Glenn Gerecke, Chief Manufacturing and Supply Officer, emphasized that environmental sustainability is central to Sandoz's operations and that this project advances their responsibility to both the planet and their people. Additionally, Sandoz has submitted a Commitment Letter to the Science Based Targets Initiative (SBTi), aiming to set science-based carbon emission reduction targets by early 2026. Financial details of the PPA were not disclosed.