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Schneider Electric Supports Teva Pharmaceuticals’ Long- Term Renewable Energy Goals Through 15-Year VPPA in Bulgaria

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Schneider Electric is proud to support Teva Pharmaceuticals in its latest step toward a more sustainable future. Through a 15-year Virtual Power Purchase Agreement (VPPA) with renewable energy provider Enery, Teva will enable the development of a new solar project in Bulgaria, Knizhovnik, which will deliver approximately 200 GWh of renewable energy annually.

The project, one of Europe’s first to combine photovoltaic (PV) and battery energy storage systems (BESS), marks a significant milestone in Teva’s journey toward 100% renewable electricity by 2035 and net-zero emissions by 2045. Schneider Electric served as Teva’s advisor throughout the VPPA process, helping align the agreement with its long-term decarbonization strategy.

Once operational in May 2026, Knizhovnik will supply around 60 GWh of renewable electricity annually to power Teva’s operations in Bulgaria—and, once Bulgaria joins the AIB, contribute to decarbonizing its broader European footprint.

"This agreement represents another significant step forward in our decarbonization journey," said Josh Decktor, Vice President, Head of Global Environment Health Safety & Sustainability, Teva. By investing in a newly built solar asset with integrated storage, we are not only securing clean energy but also enhancing grid resilience and flexibility—key components of our strategy to meet our science-based targets."

“This collaboration reflects the power of strategic partnerships,” said John Powers, Vice President, Renewable Energy & Cleantech, Schneider Electric. “The speed and efficiency of this deal, just nine months from kickoff to signing, demonstrate the agility and trust between Teva, Enery, and Schneider Electric.”

Over the life of the agreement, the project is expected to avoid approximately 15,840 metric tons of CO₂e emissions¹ per year, supporting Teva’s goal to reduce Scope 1 and 2 emissions by 46.2% by 2030. It also sets a precedent for integrating storage within VPPA structures, enhancing grid resilience and the value of renewable energy procurement.

This marks Teva’s second European VPPA and a strategic step toward broader electrification and climate leadership, enabled by Schneider Electric’s deep expertise in clean energy strategy and execution.

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¹Total expected volume of electricity generated the first year of the PPA (60 GWh) x 2024 Bulgarian electricity carbon intensity (264 gCO₂e/kWh - Our World in Data) = 15,840 tCO₂e”

The Energize program is a supply chain renewables initiative designed and delivered by Schneider Electric Sustainability Business and endorsed by the Pharmaceutical Supply Chain Initiative (PSCI).

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