Spanish renewables developer X-Elio has signed a virtual power purchase agreement (vPPA) with a cohort of pharmaceutical companies for a 369MW solar project in Spain.
The deal was signed with the Energize programme, a supply chain scheme designed to allow pharmaceutical companies to buy renewable energy to decarbonise their supply chains. It was founded by French energy corporation Schneider Electric and includes pharmaceutical giants such as Johnson & Johnson, AstraZeneca and Pfizer.
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Under the deal with X-Elio, Thermo Fisher Scientific, Haleon, Gilead Sciences and GSK will purchase 35% of the output of the 369MW Lorca solar project in Murcia, Spain annually for 10 years. X-Elio said this amounts to 245GWh of solar power per year. The project is set to come online in 2026.
As a vPPA, the deal will see the companies purchase the power from X-Elio’s site to offset their actual energy use, rather than using the power from the Lorca site itself.
Mirko Molinari, chief commercial officer at X-Elio said: “The signing of this virtual PPA reaffirms our commitment to offering personalised net-zero solutions adapted to the needs of our partners. We are delighted to collaborate with the landmark programme Energize and contribute to its ambitious goal to decarbonise the supply chain of the pharmaceutical and healthcare sectors.”
X-Elio is a subsidiary of Canadian renewable energy asset owner Brookfield Renewable. The firm took full control over X-Elio in March 2023.
