Sanofi, GDF Suez to partner on EUR 80m of energy projects

(SeeNews) - Jun 24, 2013 - French pharma group Sanofi (EPA:SAN) and utility GDF Suez (EPA:GSZ) extended a collaboration deal under which they will pour up to EUR 80 million (USD 105m) in energy capacity at Sanofi sites, with a focus on renewables.

Under the initial three-year deal from March 2012, GDF was to develop energy projects at Sanofi industrial sites in Europe and Turkey. So far, that agreement has resulted in five projects in France, Italy and Germany, including cogeneration or trigeneration gas turbines and biomass boilers and some EUR 30 million in co-investment.

Now the expanded deal will see energy installations at Sanofi sites in more countries -- adding the US, Canada, Mexico, Brazil, China and Singapore to the list. The term of the deal has been prolonged to five years, while the co-investment is seen to reach a total EUR 80 million, Sanofi said in a press release today. The collaboration comes in line with the company’s efforts to cut its energy demand by 20% by 2020.

The energy projects will be located at all kinds of Sanofi production lines -- chemicals, pharmaceuticals, vaccines, biotechnology and animal health.

(EUR 1 = USD 1.311)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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