Pivot Energy, a renewable energy provider, has announced a partnership with CordenPharma, a leader in pharmaceutical contract development and manufacturing.
The collaboration involves an off-site net metering agreement aimed at using renewable solar energy to power CordenPharma’s operations in Boulder, Colorado, thereby reducing its carbon footprint and promoting environmental stewardship.
CordenPharma Colorado will tap into renewable energy generated by solar installations owned and operated by Pivot Energy. These solar arrays, totaling 6.7 Megawatts (MWdc) (5.25 MWac), will offset 51 percent of CordenPharma’s electricity consumption at its Boulder campus. The projects, situated in Weld and Garfield Counties, are slated for full construction and integration into Xcel Energy’s utility grid by 2026.
Pivot Energy’s solar installations will feed clean electricity into the grid, with CordenPharma receiving credits for the energy produced. This arrangement not only facilitates CordenPharma’s transition to renewable energy but also contributes to the growth of renewable energy infrastructure in the local communities.
Michael Quirmbach, CEO & President of CordenPharma, emphasized the company’s commitment to sustainability, stating, “We work with companies such as Pivot Energy to achieve the highest level of sustainability ratings for our facilities as it is our responsibility as a leading CDMO to contribute to a low-carbon economy.”
CordenPharma’s dedication to sustainability is underscored by its membership in the Science Based Targets Initiatives (SCTi), which evaluates and sets emissions reduction targets. The partnership with Pivot Energy aligns with CordenPharma’s initiatives towards carbon-neutrality, showcasing its proactive approach towards environmental stewardship.