Contract pharmaceutical manufacturer CordenPharma announced it will purchase energy generated by two Pivot Energy solar project in Colorado to offset 51% of its local electricity consumption.
Pivot will develop the two separate solar arrays totaling 6.7 MW. The projects will be located in Weld and Garfield Counties and are estimated to be fully constructed and interconnected to Xcel Energy’s utility grid in 2026.
“Environmental, social and governance (ESG) is a top priority of both CordenPharma and our private equity shareholders, Astorg,” said Dr. Michael Quirmbach, CEO and president of CordenPharma. “We work with companies such as Pivot Energy to achieve the highest level of sustainability ratings for our facilities as it is our responsibility as a leading CDMO to contribute to a low-carbon economy.”
In December 2022, CordenPharma announced it had joined the Science Based Targets Initiatives (SCTi), evaluating and setting company-wide emissions reduction targets. The global pharmaceutical company has several initiatives and programs that work to meet those targets. The partnership with Pivot Energy is the latest in its efforts to reach carbon-neutrality.
“We are thrilled to work with CordenPharma to facilitate their transition to renewable energy through off-site net metering,” said Matt Brenn, Director of Business Development at Pivot Energy. “By leveraging innovative solar power solutions, CordenPharma is demonstrating its leadership in sustainability and paving the way for others in the pharmaceutical industry and the state to follow suit.”
News item from Pivot