Altenex Energy advises Merck KGaA, Darmstadt, Germany, on power purchase agreement for 130MW of wind and solar in Spain

Deal advances Merck KGaA, Darmstadt, Germany’s climate commitments and will deliver needed renewable energy to the region

DARMSTADT, GERMANY, November 2, 2023/EINPresswire.com/ —

Science and technology company Merck KGaA, Darmstadt, Germany, announced today that it has signed power purchase agreements with Matrix Renewables and Renantis, with the guidance of consultancy Altenex Energy, to build five renewable energy projects in Spain as part of its ongoing commitment to meeting its climate targets.

Guidance from global energy advisory company Altenex Energy LLC (dba Edison Energy in the U.S.) played an instrumental role in facilitating the process. Altenex provided market expertise to support Merck KGaA, Darmstadt, Germany’s strategic goal to reduce its environmental footprint.

“Partnerships such as this mark a significant step towards a greener future for the pharmaceutical sector, and we are proud to be at the forefront of this global decarbonization movement.”— Hannah Badrei, Senior Vice President, Global Energy Advisory, Edison Energy

“It is critical for companies to understand their energy supply chain and add to the region’s large-scale renewable energy capacity at a time when we need it most,” said Hannah Badrei, Senior Vice President, Global Energy Advisory, at Edison Energy. “We are honored to play a role in the rapid transition towards a more energy-independent, renewable Europe.”

The agreement will deliver a total capacity of approximately 130 MW, consisting of two onshore wind projects totaling 37 MW and three PV solar projects totaling over 88 MW. Locating the projects in Castile and Leon, Spain, is a strategic decision to capitalize on the abundant renewable energy potential of the Iberian Peninsula.

The scale of this project puts Merck KGaA, Darmstadt, Germany, well on track to achieve its climate targets: By 2030, Merck aims to cover 80% of its worldwide purchased electricity from renewable sources and intends to reduce its direct and indirect greenhouse gas emissions (Scope 1 and 2, respectively) by 50% by 2030 from a 2020 baseline. These medium-term goals are part of the larger commitment to be climate neutral by 2040.

With the execution of this deal, Altenex Energy continues to actively help leading science, technology, and pharmaceutical companies navigate the clean energy transition. In 2022, Edison Energy facilitated power purchase agreements for Bristol Myers Squibb and Takeda Pharmaceutical Company to secure access to 60 MW of solar power and 79 MW of wind power in North America, respectively.

“By purchasing zero-carbon renewable energy, these corporations can help achieve our shared goal of a more sustainable future,” said Badrei. “Partnerships such as this mark a significant step towards a greener future for the pharmaceutical sector, and we are proud to be at the forefront of this global decarbonization movement.”

About Altenex Energy

Global Reach. Local Impact. Edison Energy LLC (DBA in Europe as Altenex Energy and Alfa Energy) is a global energy and sustainability advisory that provides strategy and implementation services to help large commercial, industrial, and institutional clients navigate the energy transition. With the recent integration of Edison, Altenex, and Alfa into one global company, we bring the strength of combined expertise across energy procurement, optimization, renewables, and sustainability solutions. With advanced technological capabilities and expanded international reach, we enable our clients to achieve more positive, measurable impact. Edison by the numbers: 45 Global Fortune 500 clients; 11.2+ GW of offsite renewable procurement; $10BN+ in energy spend managed; 30+ countries served; 20+ languages spoken. For more information visit: https://www.edisonenergy.com/

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Source: Altenex Energy advises Merck KGaA, Darmstadt, Germany, on power purchase agreement for 130MW of wind and solar in Spain