Thermo Fisher Scientific Establishes 2030 Renewable Electricity Goal and Solar Power Purchase Agreement with ib vogt
Portfolio Pulse from Benzinga Newsdesk
Thermo Fisher Scientific Inc. (NYSE:TMO) has entered into a 15-year virtual power purchasing agreement (VPPA) with ib vogt for a 91-megawatt portion of the Serbal solar project. This will provide Thermo Fisher with approximately 192,000 megawatt hours of renewable electricity annually, covering over half of its European sites with 100% renewable energy by January 2025. Eurofins Scientific also joined the deal for a 36-megawatt portion, aiming to reduce both companies' Scope 2 and Scope 3 emissions.
December 06, 2023 | 8:05 am
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Thermo Fisher's new VPPA with ib vogt for solar energy is a significant step towards sustainability, matching over half of its European sites with renewable electricity by 2025.
Thermo Fisher's commitment to renewable energy through the VPPA is likely to be viewed positively by investors focused on sustainability and could lead to a favorable perception of the company's corporate responsibility. This strategic move may also provide long-term cost savings on energy and enhance the company's reputation, potentially leading to a short-term positive impact on the stock price.
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