Matrix Renewables supports Merck’s ESG goals with solar power supply. Illustration by Pexels.
Matrix Renewables, backed by TPG Rise, has signed a 10-year VPPA with Merck. Starting 2025, Matrix will provide Merck with 102 MW of solar energy from three new Spanish solar plants. This supports Merck’s goal of being climate-neutral by 2040 and sourcing 80% of electricity from renewables by 2030. Altenex Energy assisted Merck in the VPPA process.
VPPA = Virtual Power Purchase Agreement
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