Envision seals 600-GWh PPA with five healthcare companies

China’s Envision Energy unveiled today the signing of a deal to supply about 200 GWh of renewable energy to five companies active in the healthcare and pharmaceutical markets.

The three-year, multi-party power purchase agreement (PPA) was inked with UK-based AstraZeneca (LON:AZN), Danish Novo Nordisk (CPH:NOVO-B) and Swiss-based Lonza (VTX:LONN), Novartis (VTX:NOVN) and Roche (VTX:ROG).

Subscribe for Renewables Now's Corporate PPA Newsletter here for free!

The power supply deal, which comes into force in 2024, was agreed upon during the World Economic Forum's annual meeting in Davos. It is expected to result in the elimination of 120,000 tonnes of carbon dioxide annually, an amount equal to taking 25,000 cars off the road.

“This collaboration unlocks a new way for more companies in the healthcare supply chain to decarbonize their operations and demonstrates Envision Energy's commitment to creating sustainable energy solutions to help more partners' transition to a net zero future,” the Chinese firm noted in the press release.