Elawan Energy has entered into a 10-year virtual power purchase agreement (PPA) with Sandoz to drive the energy transition in Europe.
The agreement focuses on the establishment of new solar energy projects in Valladolid, Castilla y León, Spain, with a combined capacity of 150MW.
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Through this long-term collaboration, Sandoz aims to meet close to 90% of its current electricity needs for its European operations.
Sandoz chief manufacturing and supply officer Glenn Gerecke stated: “At Sandoz, environmental sustainability is a core part of how we operate – reflecting our responsibility to both the planet and our people. Our collaboration with Elawan Energy to develop this new solar project in Spain marks a concrete step toward decarbonising our operations. By covering nearly 90% of electricity demand for our current European operations, we will reduce our environmental footprint and advance our commitment to a more sustainable future.”
Elawan Energy stated that this partnership enhances its expanding portfolio of long-term agreements with multinational companies committed to renewable energy. It reinforces the company’s role in providing scaleable, impactful solutions that promote decarbonisation across various sectors.
Elawan Revenue Management and PPAs head Diego Garciam stated: “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”.
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By GlobalDataIn May 2025, Elawan Energy closed the financing of 175MW of hydropower capacity in Spain. The €76m ($88m) non-recourse project finance deal aligns with the company’s sustainability principles and energy transition objectives.
