Renewable energy developer and solutions provider BayWa r.e. has signed a virtual power purchase agreement (VPPA) to provide global medical technology leader Boston Scientific with green solar electricity.
For BayWa r.e., it is the first VPPA they have undertaken with a healthcare company. For Boston Scientific, it is the first VPPA contracted in Europe, and helps the company make progress on its decarbonisation targets.
Under this 10-year VPPA, BayWa r.e. will deliver additional electricity to the European power grid from the newly constructed and now operational 15.1-megawatt (MW) Alcalá Solar Photovoltaic Plant close to Seville, Spain. In return, Boston Scientific can secure renewable energy to match approximately 80% of the company’s electricity consumption in Europe.
“Our focus on improving patient health is inextricably linked with the health of the planet, and we have a responsibility to protect the world we all share,” said Paudie O’Connor, senior vice president, Global Supply Chain, Boston Scientific.
“This power purchase agreement underlines our commitment to sourcing renewable energy in one of the many growing regions for our company where environmental sustainability is increasingly paramount for our customers,” he added.
With more and more companies working towards meeting sustainability targets, VPPAs offer a great opportunity for corporates to source renewable energy and reduce their carbon footprint.
Daniel Parsons, Head of PPA at BayWa r.e., commented: “This is the first VPPA BayWa r.e. has signed with a healthcare company, which shows that renewable energies keep gaining traction throughout a variety of different industry segments. We’ve been active in the renewables PPA market since its beginning and we are very happy to see this type of green energy solution becoming more and more established across Europe.”
To date, BayWa r.e. has signed 77 PPAs with a volume of almost 2 gigawatt-(GW) for ground-mounted photovoltaic (PV), Floating-PV and onshore wind projects in Europe. Around 40% of this contracted capacity has been signed for projects in the Spanish market.