Swiss Lonza indicators solar VPPA with Ignis

• Swiss life science firm Lonza (VTX: LONN) has authorized a ten-year virtual power purchase agreement (VPPA) to purchase solar energy from Spanish renewables group Ignis.

Under the agreement, the Spanish company will certainly create electrical power equal to Lonza's power demand throughout Switzerland and the EU, a press release stated on Thursday.

Further information were not provided.

"Lonza aims to purchase all electrical power from eco-friendly resources where offered, and also this agreement with Ignis is a major advance for the team's carbon decrease approach," said Geert Van Acker, international head of purchase as well as supply chain at Lonza.

Established in 2015, Ignis is a solar power facilities designer with greater than 30,000 MW of projects under development throughout Spain and 10 various other countries. The company declares to have a 6% market share at the national level.