Merck KGaA Signs Power-Purchase Agreement With Enel
March 16 2021 - 10:03AM
Dow Jones News
By Joshua Kirby
Merck KGaA said Tuesday that it has signed an agreement with
Enel SpA's renewables subsidiary to buy energy from a future wind
and power-storage site in Texas, U.S.
The German pharmaceutical company is an anchor buyer within a
consortium of companies under the 12-year power-purchase agreement
with Enel Green Power, and will take on 68 megawatts of the Azure
Sky site's 350MW capacity. The site will also have a battery of
137MW, Merck said, and is expected to be operational by the first
half of 2022.
The offtake will deliver renewable-energy certificates to match
65% of Merck's U.S. electricity consumption, the company said.
"This project supports our commitment to be climate neutral by
2040, complementing our energy and emissions-reduction
initiatives," said Chris Ross, life sciences interim chief at
Merck.
The company disclosed no financial details of the PPA.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
March 16, 2021 09:48 ET (13:48 GMT)
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