Pharma firm MSD signs 45 MW Spanish solar PPA with France's Total

London — Multinational pharmaceutical company MSD (Merck & Co) has signed a 45 MW corporate power purchase agreement with Total of France for 90 GWh/yr of solar power from assets owned by Total in the Castilla La Mancha region of Spain, Total said May 19.

No price was put on the 10-year contract. In the latest data from PPA platform Zeigo, offer prices for solar PPAs in Spain during Q1 2021 averaged Eur34.00/MWh ($41.48/MWh).

"This agreement with MSD contributes to securing the revenues of our solar projects in Castilla La Mancha region in Spain and paves the way to launching the construction of new sites," Total's senior vice president Renewables, Julien Pouget, said.

In September last year the French company reached an agreement with Spanish developer Ignis to build 3.3 GW of solar capacity close to Madrid and Andalusia, bringing to over 5 GW Total's portfolio of solar projects under development in Spain by 2025.

At the end of 2020, Total's gross power generation capacity worldwide was around 12 GW, including 7 GW of renewable energy.

It aims to reach 35 GW from renewable sources by 2025, and 100 GW by 2030.