Pharmaceutical giant Bayer AG and Iberdrola SA, a Spanish-based utility firm, have entered an 11-year power purchase agreement. According to a news release by Iberdrola, the agreement will benefit Bayer’s Garbagnate Milanese location.
The Milan plant will rely only on power generated through renewable sources, maintaining the pharmaceutical company’s commitment to environmental sustainability.
The energy for Bayer will be produced using the Montefiascone photovoltaic plant located in the Lazio region. It is Iberdrola’s second photovoltaic plant in Italy and has a capacity of 7 MW.
Once the plant commences operations, it will reduce the emissions of more than 3,200 tons of CO2, which is equivalent to the power demand of over 4,000 households.
The agreement extends the partnership between the two parties in Italy for 11 years, beginning in 2025 and totaling 33 Gwh over the period.
The establishment and authorization of Iberdrola’s second plant will help Iberdrola achieve an operational capacity of 400 MW in Italy by 2025.
Apart from Bayer, a fleet of companies has already chosen Iberdrola as their trusted partner in supplying green energy. The companies have entrusted Iberdrola by signing corporate PPA agreements. The Tosano supermarket chain and the BTicino metallurgical company are some that have recently joined hands with Iberdrola.