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Novartis Signs VPPAs To Achieve 100% Renewable Electricity In European Operations

Novartis (NVS) announced five virtual power purchase agreements or VPPAs with three developers, which are anticipated to collectively add more than 275 megawatts of clean power to the electrical grid. Under the agreements, wind and solar electricity will be generated from six renewable energy projects being developed by three different providers - Acciona, EDP Renewables and Enel Green Power. All projects will be located in Spain. The projects are expected to be online by 2023.

Montse Montaner, Chief Sustainability Officer at Novartis, said: "These agreements mark a major milestone on the Novartis environmental sustainability journey to be carbon neutral across its operations by 2025 and across its value chain by 2030."

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