Matrix Renewables, the global renewable energy platform, today revealed that it has entered into a series of Virtual Power Purchase Agreements (VPPAs) with Merck. These agreements are the first VPPAs signed between Merck and Matrix Renewables, marking an important milestone for both companies.
Over the next decade, Matrix Renewables will supply Merck with more than 102 MW of combined solar power capacity. Three new solar power plants in Spain will produce this electricity from 2025. These solar farms will generate around 200 GWh of renewable electricity every year.
Merck’s sustainability goals and commitment to renewable energy
These agreements support Merck’s vision of becoming carbon neutral by 2040, with the aim of covering 80% of its purchased electricity with renewable sources by 2030. In addition, VPPAs include high ESG (environmental, social and governance) standards with increased traceability of the solar panel supply chain, ensuring respect for human rights in key supply chains.
Statements by Matrix Renewables and Merck executives
Chris Matthews, Managing Director of the Europe and Latin America region at Matrix Renewables, said, “Matrix Renewables is pleased to announce this agreement with Merck, in which we provide clean, cost-effective energy to Merck’s operations through our portfolio of solar projects in Spain. We look forward to our long-term partnership with Merck and to supporting Merck in achieving its global corporate sustainability goals.”
Laurent Villiers, Associate Director of Site Services and Energy Supply Europe at Merck, added: “Merck is delighted to contribute to the development of new solar generation capacity in Europe, in line with our sustainability objectives. The joint initiative with Matrix Renewables will enable our company to significantly reduce its long-term carbon footprint.”
The impact of new VPPAs on Merck’s sustainability and Matrix Renewables’ growth
These new VPPAs mark a major step forward for Merck in the execution of its sustainability strategy in Europe, and demonstrate the continued growth and momentum of Matrix Renewables since its inception.
The virtual power purchase agreements between Matrix Renewables and Merck mark a significant step towards a more sustainable future. They demonstrate both companies’ commitment to the transition to cleaner energy, while contributing to Merck’s climate neutrality goals by 2040. This collaboration promises to significantly reduce Merck’s carbon footprint while stimulating the development of solar energy in Europe.
