Sandoz launches renewable energy partnership to cover nearly 90% of electricity demand for European operations
Sandoz (OTCQX:SDZNY), a global leader in generic and biosimilar medicines, has announced a significant 10-year virtual Power Purchase Agreement (PPA) with Elawan Energy for new solar projects in Spain. The partnership will develop 150 MW solar projects in Valladolid, Castilla y Le贸n, which will cover nearly 90% of electricity demand for Sandoz's European operations.
The agreement represents a major step in Sandoz's decarbonization strategy, building upon similar PPAs across multiple production sites. The company has also submitted a Commitment Letter to the Science Based Targets Initiative (SBTi), pledging to set science-based carbon emission reduction targets by January 2026.
Sandoz (OTCQX:SDZNY), leader globale nei medicinali generici e biosimilari, ha annunciato un importante accordo virtuale di acquisto di energia (PPA) della durata di 10 anni con Elawan Energy per nuovi progetti solari in Spagna. La partnership svilupper脿 150 MW di impianti solari a Valladolid, Castilla y Le贸n, che copriranno quasi il 90% del fabbisogno elettrico delle attivit脿 europee di Sandoz.
L'accordo rappresenta un passo decisivo nella strategia di decarbonizzazione di Sandoz, rafforzando iniziative simili gi脿 avviate in diversi siti produttivi. L'azienda ha inoltre inviato una lettera di impegno alla Science Based Targets Initiative (SBTi), impegnandosi a definire obiettivi di riduzione delle emissioni basati sulla scienza entro gennaio 2026.
Sandoz (OTCQX:SDZNY), l铆der mundial en medicamentos gen茅ricos y biosimilares, ha anunciado un importante PPA virtual de 10 a帽os con Elawan Energy para nuevos proyectos solares en Espa帽a. La alianza desarrollar谩 150 MW de energ铆a solar en Valladolid, Castilla y Le贸n, que cubrir谩n casi el 90% de la demanda el茅ctrica de las operaciones europeas de Sandoz.
El acuerdo supone un avance significativo en la estrategia de descarbonizaci贸n de Sandoz, apoy谩ndose en PPAs similares en varios centros de producci贸n. La compa帽铆a tambi茅n ha presentado una carta de compromiso a la Science Based Targets Initiative (SBTi), comprometi茅ndose a establecer objetivos cient铆ficos de reducci贸n de emisiones antes de enero de 2026.
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Sandoz (OTCQX:SDZNY), leader mondial des m茅dicaments g茅n茅riques et biosimilaires, a annonc茅 un important accord virtuel d'achat d'茅lectricit茅 (PPA) sur 10 ans avec Elawan Energy pour de nouveaux projets solaires en Espagne. Le partenariat d茅veloppera 150 MW de projets solaires 脿 Valladolid, Castille-et-Le贸n, qui couvriront pr猫s de 90 % de la demande 茅lectrique des activit茅s europ茅ennes de Sandoz.
Cet accord constitue une 茅tape majeure dans la strat茅gie de d茅carbonation de Sandoz, s'appuyant sur des PPA similaires conclus sur plusieurs sites de production. L'entreprise a 茅galement soumis une lettre d'engagement 脿 la Science Based Targets Initiative (SBTi), s'engageant 脿 d茅finir des objectifs de r茅duction des 茅missions fond茅s sur la science d'ici janvier 2026.
Sandoz (OTCQX:SDZNY), ein weltweit f眉hrendes Unternehmen f眉r Generika und Biosimilars, hat einen bedeutenden zehnj盲hrigen virtuellen Stromabnahmevertrag (PPA) mit Elawan Energy f眉r neue Solarprojekte in Spanien angek眉ndigt. Die Partnerschaft wird 150 MW an Solarprojekten in Valladolid, Kastilien und Le贸n entwickeln, die fast 90 % des Strombedarfs der europ盲ischen Aktivit盲ten von Sandoz abdecken sollen.
Die Vereinbarung ist ein wichtiger Schritt in der Dekarbonisierungsstrategie von Sandoz und baut auf 盲hnlichen PPAs an mehreren Produktionsstandorten auf. Das Unternehmen hat au脽erdem eine Verpflichtungserkl盲rung (Commitment Letter) an die Science Based Targets Initiative (SBTi) eingereicht und sich verpflichtet, bis Januar 2026 wissenschaftlich fundierte Minderungsziele f眉r Emissionen festzulegen.
- Agreement will cover nearly 90% of electricity demand for European operations
- Significant renewable energy commitment with 150 MW solar project capacity
- 10-year long-term partnership demonstrates strong commitment to sustainability
- Formal commitment to Science Based Targets Initiative (SBTi) for carbon reduction
- None.
MEDIA RELEASE
- Sandoz signs 10-year virtual PPA with Elawan Energy for new 150 MW solar projects in Spain
- Will cover nearly
90% of electricity demand for European operations - Concrete step to support global Sandoz decarbonization efforts and sustainability commitment
Basel, August 12, 2025 鈥� Sandoz (SIX:SDZ/OTCQX:SDZNY), the global leader in generic and biosimilar medicines, today announced the signing of a 10-year virtual Power Purchase Agreement (PPA) with Elawan Energy, a global player in the renewable energy sector, for new-build solar projects in Valladolid, Castilla y Le贸n, Spain. This agreement marks a concrete step in the company鈥檚 decarbonization strategy, reinforcing its commitment to climate action and sustainable operations.
Europe is home to the majority of Sandoz operations, and this partnership is expected to meet nearly
Glenn Gerecke, Chief Manufacturing and Supply Officer, said: 鈥淎t Sandoz, environmental sustainability is a core part of how we operate 鈥� reflecting our responsibility to both the planet and our people. Our collaboration with Elawan Energy to develop this new solar project in Spain marks a concrete step toward decarbonizing our operations. By covering nearly
This new partnership contributes to Sandoz ongoing efforts to decarbonize electricity use globally, complementing similar Power Purchase Agreements for production operations across multiple sites. In a broader context, Sandoz announced in 2024 the formal submission of a Commitment Letter to the Science Based Targets Initiative (SBTi), confirming the company鈥檚 intent to set science-based carbon emission reduction targets. Sandoz has committed to submitting its plan to SBTi for validation by the end of January 2026.
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DISCLAIMER
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management鈥檚 views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law.
ABOUT SANDOZ
Sandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in generic and biosimilar medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world鈥檚 first oral penicillin in 1951, and the world鈥檚 first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion. 聽
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FAQ
What is the size of Sandoz's new solar energy agreement with Elawan Energy?
How much of Sandoz's European electricity demand will the new solar project cover?
Where will Sandoz's new solar projects be located?
What are Sandoz's commitments to the Science Based Targets Initiative (SBTi)?
Who is Sandoz partnering with for this renewable energy initiative?
