04/19/2018

Merck Advances Clean Energy Goals with Invenergy

Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Invenergy, North America’s largest privately held renewable energy company, has announced a Virtual Power Purchase Agreement (VPPA) that adds 60 megawatts (MW) of renewable energy to the electrical grid and supports Merck’s environmental sustainability goals.

The electricity will be generated from Invenergy’s Santa Rita East wind farm, located approximately 70 miles west of San Angelo, Texas.

This VPPA significantly advances Merck’s progress toward achieving its 2025 goal to have more than 50 percent of the company’s purchased electricity come from renewable sources. The company aims to have 100 percent of its purchased electricity come from renewable sources by 2040.

“We have a responsibility to use our resources wisely as we drive innovation in global health care while protecting and preserving the planet and our communities,” said Danielle Menture, Vice President, Global Safety & Environment, Merck. “Our sustainability goals address the rising expectations of our stakeholders about the environmental impacts of our operations, energy use, supply chain and packaging.”

To achieve the company’s renewable energy goals, Merck employs a balanced, global strategy that includes a variety of levers, such as VPPAs, third-party provided green power and on-site installations. This VPPA represents approximately 60 MW of new wind power delivered to the Electric Reliability Council of Texas market. It will also enable the development of a new wind asset and reduce Merck’s greenhouse gas emissions by more than 100,000 metric tons per year over the life of the 12-year agreement. This equates to removing more than 20,000 passenger vehicles from the road on an annual basis.

“We are delighted to partner with Merck to provide them with clean energy from our Santa Rita East wind farm, and we applaud their 100 percent renewable energy commitment,” said Invenergy’s Executive Vice President & Chief Commercial Officer Jim Shield. “This agreement underscores Invenergy’s leadership in delivering clean energy solutions to global companies that are focused on improving the sustainability of their operations and business practices.”

Since 2015, Invenergy has partnered with more than ten corporate customers to develop over 1,100 MW of new renewable energy capacity. As a privately held, full-service energy solutions provider, Invenergy has the unique ability to be creative when it comes to solving complex energy challenges for corporate customers.

The Santa Rita East wind farm is expected to be online in 2019, and will create up to 300 jobs during construction, and 12-15 permanent jobs once operational. Merck’s global renewable energy advisor, Schneider Electric Energy & Sustainability Services, conducted a competitive project solicitation for Merck and supported the financial analysis to ensure the project’s long-term success. Merck collaborated with the Business Renewables Center, an initiative of the Rocky Mountain Institute, which is a member-based platform that streamlines and accelerates corporate purchasing of off-site, large-scale wind and solar energy.