Elawan Energy Sign 10-Year PPA with Sandoz

Madrid-based Elawan Energy, part of the ORIX group, a global leader in the renewable energy sector, has signed a 10-year virtual Power Purchase Agreement (PPA) with Sandoz, the global leader in generic and biosimilar medicines.

The agreement covers the development of new-build solar projects in Valladolid, Castilla y León, Spain, with a total installed capacity of 150 MW.

This long-term partnership will enable Sandoz to cover nearly 90% of the current electricity consumption of its European operations, representing a major step forward in its decarbonization strategy and its broader commitment to climate action and sustainable practices.

Under the agreement, Sandoz and Elawan Energy will jointly develop new solar projects with a total installed capacity of 150 MW. Through this long-term collaboration, Sandoz aims to meet close to 90% of its current electricity needs for its European operations.

Sandoz chief manufacturing and supply officer Glenn Gerecke said that environmental sustainability is a core part of how their company operates, reflecting their responsibility to both the planet and people.

“Our collaboration with Elawan Energy to develop this new solar project in Spain marks a concrete step toward decarbonising our operations. By covering nearly 90% of electricity demand for our current European operations, we will reduce our environmental footprint and advance our commitment to a more sustainable future,” he said.

Aligns with Elawan’s Mission

Diego Garcia, Head of Revenue Management and PPAs at Elawan, said that supporting Sandoz on their path toward sustainability aligns with Elawan Energy’s core mission.

“This agreement represents a significant milestone for Elawan, enabling projects in our development pipeline to reach commercial operation and reinforcing our commitment to strengthening our role as a leading independent power producer (IPP) in Spain,” he added.

This new partnership with Sandoz adds to Elawan Energy’s growing portfolio of long-term agreements with global corporations committed to clean energy, consolidating the company’s position in delivering scalable, high-impact solutions that drive decarbonisation across industries.