– Vesper Energy will supply at least 310 megawatts (MW) of renewable energy to the grid under a new Virtual Power Purchase Agreement (VPPA) with Pfizer.
Posted: October 19, 2021 at 4:10 am MDT|Update: 8 minutes ago
DALLAS, October 19, 2021 / PRNewswire / – Vesper Energy (“Vesper” or “the Company”), a leading developer, owner and operator of large-scale renewable energy assets, announced that Pfizer, one of the world’s premier biopharmaceutical companies in the world, has entered into a Virtual Power Purchase Agreement (VPPA) with the Company. Under the 15-year agreement, Vesper will supply at least 310 MW of renewable energy to the grid, efficiently supplying 100% of the projected electricity needs of Pfizer’s North American operations through clean solar power.
“We are proud to partner with Pfizer as it takes an important step in reducing the carbon footprint of its operations in North America and achieving carbon neutrality,” said Vesper Energy CEO . Craig carson. “Vesper’s Hornet Solar project is a good example of how we harness high-quality renewable infrastructure to solve our customers’ energy challenges, while making a significant contribution to the movement towards greater sustainability. “
Solar power will be generated from Vesper’s 500 MW Hornet Solar project in the west Texas, which will be fully operational by the end of 2023.
“At Pfizer, we apply science to the world’s greatest health challenges, and this commitment extends to the fight against climate change, which has profound impacts on society and public health,” said Bill Carapezzi, Executive Vice President, Global Business Services and Transformation at Pfizer. “We are delighted to enter into this virtual power purchase agreement, which is an important step towards achieving our 2030 goal of purchasing 100% renewable energy. “
Vesper Energy is majority owned by funds and accounts managed by Magnetar Capital through its Energy & Infrastructure business.
About Vesper Energy:
Vesper Energy is a North American developer, owner and operator of large-scale renewable energy and energy storage assets. It has marketed more than 680 MW of solar projects in the United States and has a 3 GW and 2.5 GWh solar energy storage development pipeline. Vesper Energy started as Lendlease Energy Development in 2015 and was renamed Vesper Energy in 2020, after Magnetar Capital joined with management to acquire the business.
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