Commercial, Solar, Sourcing Renewables, Wind - June 12, 2024
Fresenius Medical Care Signs 5 Solar/Wind PPAs
Fresenius Medical Care (FME), a manufacturer of products and services for people with kidney disease, signed five virtual power purchase agreements (VPPAs) with wind and solar energy project developers in the U.S. and Germany.
The projects are expected to feed around 580 gigawatt hours of renewable energy into the grid, which equals up to 46% of FME's most recently reported global consumption.
The VPPAs are helping the company take a step towards its goal of reducing emissions in its own operations across Scope 1 and Scope 2 by 50% by 2030.
"The commitment to sustainability is firmly anchored in our corporate mission with the objective to become carbon neutral in our operations by 2040," says Helen Giza, CEO of Fresenius Medical Care AG, in a statement. "The successful execution of the agreements is an important milestone and brings us closer to this goal."
The wind and solar parks are scheduled to go into operation in 2024 and 2025, and the contracts with FME have terms of 10 to 15 years.
In January 2024, FME also submitted its commitment letter for the Science Based Target initiative (SBTi), further aligning its climate targets with the SBTi standards. At this year's Annual General Meeting, the reduction of GHG emissions was also anchored as a performance target for the long-term variable remuneration of the Management Board in the new 2024+ remuneration system.
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