Elawan will develop 150 MW of solar projects in Spain.

Elawan Energy has signed a 10-year virtual power purchase agreement (PPA) with Sandoz to promote the energy transition in Europe. This agreement aims to establish new solar energy projects in Valladolid, Castilla y León, Spain, with a total capacity of 150MW. Through this partnership, Sandoz plans to fulfill nearly 90% of its current electricity needs for its European operations. Glenn Gerecke, Sandoz's chief manufacturing and supply officer, emphasized that environmental sustainability is fundamental to their operations, and this collaboration represents a significant step toward decarbonizing their operations. Elawan Energy noted that this partnership enhances its growing portfolio of long-term agreements with multinational firms committed to renewable energy, reinforcing its role in providing scalable solutions for decarbonisation across various sectors. Diego Garciam, head of Elawan Revenue Management and PPAs, indicated that supporting Sandoz's sustainability goals is aligned with their mission and marks a key milestone for Elawan in advancing its development projects and strengthening its position as a leading independent power producer (IPP) in Spain. In May 2025, Elawan Energy secured financing for 175MW of hydropower capacity in Spain, with a €76m ($88m) non-recourse project finance deal that aligns with the company's sustainability and energy transition goals.