BayWa r.e., the renewables arm of BayWa Group, has inked a historic Virtual Power Purchase Agreement (VPPA) with global medical technology leader Boston Scientific, marking the first collaboration of its kind for both entities. Boston Scientific's inaugural VPPA in Europe is set to play a pivotal role in advancing the company's decarbonization goals.
The 10-year VPPA will see BayWa r.e. supply solar electricity from the recently operational 15.1MW Alcalá solar farm, situated near Seville, Spain, to the European power grid. This initiative allows Boston Scientific to match approximately 80% of its electricity consumption in Europe with renewable energy.
Paudie O'Connor, Senior Vice President, Global Supply Chain, Boston Scientific, highlighted the connection between environmental responsibility and the company's dedication to improving patient health. He stated, “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.”
Daniel Parsons, Head of Power Purchase Agreements (PPA) at BayWa r.e., expressed satisfaction with the expanding role of green energy solutions in Europe. He commented, “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.”
BayWa r.e. has emerged as a key player in the renewable energy sector, with 77 PPAs signed to date, totaling almost 2GW for ground-mounted solar, floating solar, and onshore wind projects in Europe. Notably, approximately 40% of the contracted capacity pertains to projects in the Spanish market.
The VPPA between BayWa r.e. and Boston Scientific underscores the increasing adoption of sustainable energy solutions and highlights the pivotal role renewables play in achieving corporate environmental objectives.
