Novartis Announces Renewable Energy Goals For Its European Operations

Last week, Novartis announced its signature on five virtual power purchase agreements (VPPAs), which are expected to collectively add more than 275 megawatts of clean power to the electrical grid. The announcement sets the company to be the first pharmaceutical entity to attain 100% renewable electricity in its European operations via its VPPAs. 

According to the company’s press release “wind and solar electricity will be generated from six renewable energy projects being developed by three different providers – Acciona, EDP Renewables and Enel Green Power. All projects will be located in Spain. The projects are expected to be online by 2023 and aim to address the company’s carbon footprint across its European operations over a period of 10 years from the start of operations.” 

This move is not surprising since electricity use for process manufacturing is an area that manufacturers will be looking more to in order to reduce energy costs as well as CO2 emissions. 

As the debate around climate change starts to take shape, many manufacturing companies have already started thinking about green energy as a next step in their evolution plans. We will definitely see more announcements like these from pharmaceutical manufacturers and other similarly situated supply chain members. 

At Lanton Law we understand the complexities or the healthcare and life science industries and how green energy plays into their business transitions. Contact us to learn about how either our legal or lobbying services can help you attain your goals.