GHG Emissions, Commercial, Industrial, Solar  -  April 4, 2025

Cisco, Biogen, IDEXX, Waters Corp Sign Solar VPPAs

Cisco, Biogen Inc., IDEXX Laboratories and Waters Corporation signed six virtual power purchase agreements (VPPAs) for 172 MW of solar in Texas.

The VPPAs were signed through an aggregated procurement via the Sustainability Roundtable’s Net Zero Consortium for Buyers (NZCB).

The transaction procures 172 MW of purchaser-caused energy attribute certificates (PC EACs) from Star Dairy and Rosebud, two forthcoming Texas solar plants to be developed by X-ELIO, a Brookfield Renewable asset.

Centering on a reverse auction that is transparent to NZCB’s high-credit buyers and blind to the sellers, the process procures PC EACs, whose long-term model enables the financing and development of renewable energy projects. Each corporate buyer will apply their PC EACs from Star Dairy Solar and Rosebud Solar towards its emissions reduction goals. 

Through the transaction, security and networking technology company Cisco entered into a VPPA for 50 MW of the Star Dairy solar project and 50 MW of the Rosebud solar project. This aggregated renewable energy procurement, Cisco’s third with the NZCB, advances Cisco’s goal to reach net zero across its value chain by 2040.

Biogen, a biotechnology company, will procure PC EACs from 12 MW of the Star Dairy solar project and 23 MW of the Rosebud solar project. This is Biogen's second aggregated renewable energy procurement with the NZCB and contributes to the company's 100% renewable energy commitment, which it has maintained since 2014.

Pet healthcare company IDEXX Laboratories will procure PC EACs from 20 MW of the Star Dairy solar project. This aggregated renewable energy procurement, IDEXX’s second with the NZCB, supports its goal of procuring 100% renewable electricity by 2030.

Waters Corporation — a global analytical instruments, separations technologies, and software company — will procure PC EACs from 17 MW of the Star Dairy solar project.

“As Cisco looks to reach its net zero target across its value chain, aggregated renewable energy procurements with other corporate buyers figure significantly in our renewable energy transition approach,” said Andy Smith, Director of Energy, Employee Health and Safety and Technology at Cisco, in a statement. “Joining other buyers enables us to spread our procurement across multiple transactions, diversifying our renewable energy portfolio in a way that decreases risk and increases cost-effectiveness. We are delighted to work with NZCB buyers to cause new clean energy capacity.”

Star Dairy and Rosebud expect to achieve commercial operation in July 2027. Projections anticipate the six individual VPPAs will yield approximately 367,000 PC EACs annually throughout the contract’s 12-year duration.

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