Novartis Signs Five Contracts as Part of Green Energy Push
November 19 2020 - 6:00AM
Dow Jones News
By Maitane Sardon
Pharmaceutical company Novartis AG said Thursday that it has
signed five green-energy contracts to help it achieve its goal of
only using renewable electricity to power its operations in
Europe.
The company said it has signed five renewable-energy virtual
power-purchase agreements, which it expects will add 275 megawatts
of clean energy to the grid that powers its operations.
"Energy efficiency and renewable-energy solutions are the
cornerstones of our strategy for reducing emissions," said Montse
Montaner, chief sustainability officer at Novartis. She said the
deals will contribute to the company's plan to be carbon neutral
across its operations by 2025 and across its value chain by
2030.
Under the agreements, wind and solar electricity will be
generated from six renewable energy projects located in Spain
developed by providers Acciona, EDP Renewables and Enel Green
Power, the company said.
Novartis said the projects will help it reduce carbon emissions
equivalent to removing approximately 113.000 passenger vehicles
from the road annually.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
November 19, 2020 05:45 ET (10:45 GMT)
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