By Dominic Chopping

Renewable energy producer Statkraft said it has entered a wind power agreement with AstraZeneca that sees the Anglo-Swedish pharma giant commit to purchasing 200 gigawatt-hours of renewable energy a year for ten years.

The commitment corresponds to around 80% of AstraZeneca's total electricity needs at its research facility in Gothenburg and manufacturing facility in Sodertalje, Norwegian state-owned Statkraft said Wednesday.

Statkraft said the agreement is based on the commissioning of three new Swedish wind farms located in the same area as AstraZeneca's research and manufacturing facilities.

Financial terms weren't disclosed.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

August 09, 2023 06:15 ET (10:15 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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