US healthcare group Johnson & Johnson announced today that it has signed a corporate power purchase agreement (PPA) with Denmark’s Ørsted A/S to procure electricity from two wind farms in Ireland.
The eight-year PPA specifies that the Danish energy major is to supply more 1 TWh of power over the life of the contract.
Thanks to the long-term nature of the arrangement, Ørsted will be able to invest in its development and repowering strategy to construct more renewable generation in the future, Johnson & Johnson said.
The latest PPA follows a set of other virtual PPAs that Johnson & Johnson signed in Europe. These contracts combined will enable the US group to secure the equivalent of 100% renewable power for all of its property sites.