By Olivia Bugault

 

Total SE said Thursday that it has signed a 10-year power purchase agreement with U.S. pharma company Merck & Co.

The French oil-and-gas major said it will produce 90 gigawatt hours of energy a year, coming from solar-power projects in Spain with a capacity of 45 megawatts.

The company didn't disclose the financial details of the deal.

"This agreement with MSD [Merck & Co] contributes to securing the revenues of our solar projects in Castilla La Mancha region in Spain and paves the way to launching the construction of new sites," Total's senior vice president of renewables, Julien Pouget, said.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

May 20, 2021 02:50 ET (06:50 GMT)

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