GHG Emissions, Industrial, Solar - February 5, 2025
Thermo Fisher, Gilead Sign Solar PPA
Thermo Fisher Scientific Inc. and three other healthcare and pharmaceutical companies announced a 10-year virtual power purchasing agreement (VPPA).
Haleon, Gilead Sciences and GSK joined Thermo Fisher in signing the agreement with global renewable energy developer X-ELIO, which is designed to increase access to renewable electricity through the Lorca Solar project. The participating companies will receive 245 GWh of renewable energy annually for 10 years through a multi-buyer PPA under the Energize program.
The energy will come from 35% of X-ELIO’s Lorca Solar project, which has a total capacity of 369 MW and is expected to be operational by early 2026.
Thermo Fisher’s share of Lorca solar, together with the Serbal solar project announced in December 2023, will match all of the company’s addressable European sites with 100% renewable electricity. The project also accelerates progress toward the company’s goal of achieving 80% global renewable electricity by 2030. Thermo Fisher’s 73-MW portion of the Lorca solar project will generate approximately 150,000 megawatt-hours of renewable electricity annually.
The aggregated share of Lorca solar will simultaneously reduce Scope 2 and Scope 3 emissions for Thermo Fisher and the cohort of value chain partners. Scope 2 emissions include those from purchased electricity to power a company’s facilities, while Scope 3 includes emissions from value chain partners.
“When we collaborate with our customers and suppliers, we accelerate our collective progress toward net-zero emissions,” said Konrad Bauer, senior vice president, global business services, Thermo Fisher Scientific, in a statement. “Achieving 100%renewable electricity for our European sites is a significant milestone on our journey, and as cohort lead for this agreement facilitated by the Energize initiative, we are committed to leveraging our experience and insights to help enable similar milestones for our partners.”
The Energize initiative, managed by Schneider Electric together with the Pharmaceutical Supply Chain Initiative, is a collaborative partnership among four pharmaceutical and healthcare companies and their suppliers that works to increase access to renewable electricity, drive supply chain decarbonization and accelerate action across the sector. Thermo Fisher joined Energize in 2021 to support its own renewable electricity adoption strategy, a key component of the company’s comprehensive net-zero strategy. Thermo Fisher was elected cohort lead for the Lorca solar VPPA, underscoring its industry leadership on the path to net zero emissions by 2050.
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