Daily News Wrap-Up: Pfizer to Buy Solar Power From a 310 MW Project in Texas

Cognizant to become net-zero emission company by 2030


Here are some noteworthy cleantech announcements of the day from around the world:

Renewables developer Vesper Energy has entered into a virtual power purchase agreement (VPPA) with Pfizer for 310 MW of solar capacity. Vesper’s 500 MW Hornet solar project in West Texas, will be fully operational by the end of 2023. The 15-year agreement covers 100% of the projected power needs of Pfizer’s North American operations through clean solar energy. Vesper Energy has commercialized over 680 MW of solar projects in the U.S. and has an existing 3 GW solar and 2.5 GWh energy storage development pipeline.

Bloomberg Philanthropies and the International Solar Alliance (ISA) announced a partnership to mobilize $1 trillion in global investments for solar energy across ISA’s member countries. The two organizations will kick off the collaboration by working with World Resources Institute (WRI) to develop a Solar Investment Action Agenda and a Solar Investment Roadmap, launched at COP26 and in 2022, respectively. To support the new partnership, BloombergNEF (BNEF) released the Scaling Up Solar in ISA Member Countries report, serving as the analytical backing for the Action Agenda and Solar Investment Roadmap. According to the report, electricity demand is expected to triple over the next three decades in seventy-five underdeveloped ISA countries. In the next five years, the cost of utility-scale solar is expected to drop by almost 20%.

Cognizant announced it will achieve net-zero emissions by 2030. A milestone set out as part of the company’s ongoing environmental, social, and governance (ESG) plans to become a more sustainable business. Cognizant’s commitment to net-zero calls for reducing emissions by 50% from the company’s global operations and supply chain by 2030 and by 90% by 2040. The remaining emissions will be negated with carbon offsets. In addition to accelerating its net-zero agenda, Cognizant is developing and deploying solutions enabling its global client base to double down on reducing its carbon footprints, reducing waste, and sustainable product development by leveraging technology advancements in artificial intelligence (AI), data and analytics, cloud and internet of things (IoT).

Adani Group’s Chairman Gautam Adani has said that the Adani portfolio companies in the energy and utility business would invest over $20 billion in renewable energy generation over the next decade. The overall organic and inorganic investments across the entire green energy value chain will range between $50 billion and $70 billion. Over 70% of its planned capex until 2030 will be in sustainable technologies. This includes investments with potential partners for electrolyzer manufacturing, backward integrations for component manufacturing to secure the supply chain for the solar and wind generation businesses, and AI-based utility and industrial cloud platforms. When combined with India’s cost and locational advantages, this will enable Adani to produce the world’s least expensive green electron and be on track to become the world’s largest renewable power portfolio by 2030.

Engineering and project management consultancy K2 Management (K2M) has worked as owner’s engineer on the final phase of an 88 MW wind farm project in Vietnam. Commercial operation has begun at the 22-turbine wind farm in Ninh Thuan, a joint venture between AC Energy and BIM Group. Once fully operational, the farm will produce 327 GW per year, enough to power around 50,000 homes and offset 298,551 tons of CO2 annually. As part of the project, K2M – which drew on the company’s broader expertise in Europe and local Vietnamese specialists issued 800 technical notes and memos, managed four contractors, and up to 600 staff working on site.


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