Takeda Signs Virtual Power Purchase Agreement with Enel North America to Advance Renewable Energy Production in the United States
Takeda and Enel North America announced the signing of a long-term virtual power purchase agreement (VPPA) for the electricity delivered to the power grid from a 79 megawatt (MW) portion of Enel’s Seven Cowboy wind project in the state of Oklahoma in the U.S. The agreement, advised by Edison Energy LLC, advances progress towards achieving Takeda’s goals of reducing 40 percent of scopes 1 and 2 greenhouse gas (GHG) emissions by 2025 and achieving net-zero1 GHG emissions for scopes 1 and 2 before 2035.
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A VPPA is a long-term bilateral contract for renewable energy and a strategic means through which Takeda is supporting the addition of renewable energy onto the local power grid. Through the agreement, Takeda will purchase approximately 350,000 MWh of electricity from Enel annually, equivalent to the electricity needed to power around 30,000 U.S. homes each year. This provides enough energy to meet Takeda’s anticipated electricity needs in the United States. The project is expected to begin operations by 2023.
“The health of our planet and the health of people are inextricably linked and, as such, it is incumbent on us to take every step we can to protect both,” said Takako Ohyabu, chief global corporate affairs and sustainability officer at Takeda. “This agreement plays a key role in creating a more sustainable infrastructure, while also fostering responsible innovation and allowing us to do our part to minimize our environmental impact and address one of the most pressing health threats facing humanity and the planet.”
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By supporting the creation of renewable energy that will supply the energy grid for broad use in the U.S., this purchase agreement is a key milestone in Takeda’s global environmental sustainability efforts as the renewable energy certificates created will be applied towards its carbon reduction targets. This agreement accounts for more than 100,000 tons of the company’s current total GHG emissions or approximately 20 percent of current enterprise scope 1 and 2 emissions. The renewable energy certificates provided under the agreement will cover the electricity usage for U.S. facilities including BioLife Plasma Services centers in the U.S., global manufacturing and supply, research and development and other office locations with the ability to accommodate expansions.
“It’s clear that businesses must play a leading role in driving decarbonization in the U.S.,” said Paolo Romanacci, head of Enel North America’s renewable energy business, Enel Green Power. “Enel offers a suite of tailored solutions that enable our partners to reach net zero. Through this VPPA, Enel is proud to support Takeda in advancing toward the company’s sustainability goals.”
“Corporate sustainability requires impactful clean energy investments,” said Hannah Badrei, Ph.D., vice president of energy supply advisory, Edison Energy. “This was a cutting-edge transaction in which Takeda has enabled construction of the project and reduced its emissions through a virtual Power Purchase Agreement, while also stabilizing costs via an innovative volatility protection structure. A transaction like this goes a long way in measurably impacting climate change, and Edison is proud to support Takeda on its journey towards a healthier, resilient, and more sustainable future.”
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