- 20-year Power Purchase Agreement with SK Innovation E&S to add 16 MW of renewable electricity capacity starting in December 2027
- Supports Merck’s 2030 sustainability targets to source 80% renewable electricity and reduce Scope 1 and 2 emissions by 50%
Merck, a leading science and technology company, has signed a 20-year Power Purchase Agreement (PPA) with SK Innovation E&S to deliver 16 megawatts (MW) of new renewable electricity capacity for its Life Science sites in Daejeon and Songdo, South Korea. This PPA is the company’s longest renewable energy commitment in APAC and underscores its leadership in manufacturing sustainability as a driver of business innovation.
“This agreement reflects our long-term commitment to manufacturing sustainability,” said Tim Jaeger, Chief Strategy and Transformation Officer, Life Science business of Merck. “By adding renewable electricity to the grid for our operations in South Korea, we are taking further measures to reduce our environmental impact and enabling our customers do the same.”
When operational in late 2027, the PPA will provide approximately 21,000 megawatt-hours of electricity annually, meeting approximately 75% of its Life Science business’s electricity demand in South Korea.
This new agreement builds on Merck’s global renewable energy portfolio, which includes virtual PPAs in Europe and North America, as well as additional PPAs and onsite installations worldwide. Together, these initiatives keep the company on track to achieve its 2030 target of sourcing 80% of purchased electricity from renewable sources ahead of schedule and to reach climate-neutral operations by 2040.