Sandoz has signed a 10-year virtual Power Purchase Agreement (PPA) with Elawan Energy, a global player in the renewable energy sector, to co-develop 150 MW of new solar projects in Valladolid, Castilla y Leon, Spain.

This long-term partnership is expected meet nearly 90 percent of the current electricity demand for Sandoz’s European operations, representing a major step forward in its decarbonization strategy.

“Our collaboration with Elawan Energy to develop this new solar project in Spain marks a concrete step toward decarbonizing our operations. By covering nearly 90 percent of electricity demand for our current European operations, we will reduce our environmental footprint and advance our commitment to a more sustainable future,” said Glenn Gerecke, Chief Manufacturing and Supply Officer, at Sandoz.

This new partnership with Sandoz strengthens Elawan Energy’s growing portfolio of long-term agreements with global corporations committed to clean energy.

“Supporting Sandoz on their path toward sustainability aligns with our core mission. This agreement represents a significant milestone for Elawan, enabling key projects in our development pipeline to reach commercial operation and reinforcing our commitment to strengthening our role as a leading independent power producer (IPP) in Spain,”said  Diego Garcia, Head of Revenue Management and PPAs at Elawan.

The partnership complements Sandoz’s 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’s intent to set science-based carbon emission reduction targets. The company has committed to submit  its plan to SBTi for validation by the end of January 2026.  

Headquartered in Basel, Switzerland, Sandoz is a global leader in generic and biosimilar medicines. It offers a broad portfolio of approximately 1,300 products addressing diseases from the common cold to cancer. In 2024, Sandoz recorded net sales of USD 10.4 billion.