Hikma signs its first virtual power purchase agreement (VPPA) with Q ENERGY
London, Tuesday 11 August 2026 – Hikma Pharmaceuticals PLC is delighted to announce that it has signed its first virtual power purchase agreement (VPPA) with Q ENERGY. This marks a significant milestone in Hikma’s sustainability journey and commitment to reducing Scope 2 emissions by 25% by 2030 compared to a 2020 baseline. SE Advisory Services, Schneider Electric's global consulting practice, supported Hikma throughout the transaction as part of its Energize programme.
The 10-year agreement will support a newly-built 34.6 MWp solar park in Castilla-La Mancha near Madrid, Spain. From 2027, the VPPA will deliver approximately 40,000 MWh of renewable electricity to support Hikma’s European manufacturing operations.
Tim Brooks, VP Sustainability at Hikma, said: "This agreement with Q ENERGY advances our target to reduce Scope 1 and 2 emissions by 25% by 2030. It will generate enough energy to cover our operations in Portugal, Spain, Italy and Germany. Protecting the environment is key to help us expand patient access to high-quality medicines.”
"This agreement highlights the important role that corporate renewable energy procurement plays in supporting the energy transition," said Meishi Tan, Head of PPA and Structured Origination. "We are pleased to help deliver Hikma's sustainability objectives while helping bring new solar generation online in Spain."
"Hikma's first VPPA demonstrates how companies turn climate goals into action," said Fabien Chene, Head of Sustainability Business Europe, SE Advisory Services. “We are proud to have supported Hikma by providing guidance and enabling the company to reduce emissions, accelerating the development of new clean energy capacity."
About Hikma:
Hikma helps put better health within reach every day for millions of people around the world. For more than 45 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across North America, the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 9,400 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. For more information, please visit: www.hikma.com
Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI:549300BNS685UXH4JI75) (rated BBB/stable S&P and BBB/stable Fitch)
About Energize programme:
Energize programme helps suppliers accelerate renewable energy procurement and make meaningful progress toward their climate commitments. By providing access to market expertise, education, and peer collaboration, Energize helps participating companies navigate complex renewable energy transactions and transform sustainability ambitions into tangible outcomes.
About Q ENERGY:
Q ENERGY is Europe's full-service provider for green power plants. The company is active along the entire value chain of renewable energy projects - from solar parks, onshore and offshore wind projects to energy storage solutions and hybrid power plants. 600 employees in the Berlin headquarters and further international offices are currently driving a development pipeline of 8.2 GW across Europe. Building on more than 25 years of experience and +2.8 GW completed renewable energy assets, Q ENERGY is currently active in Spain, Portugal, France, and Germany. Together with its independent sister company Hanwha Qcells, Q ENERGY forms the energy division of its mother company and top-tier Korean enterprise Hanwha Solutions Corporation. For more information, please visit www.qenergy.eu.
Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal
EVP, Strategic Planning and Global Affairs
+44 (0)7776 477050
Tim Brooks,
VP Sustainability
+44 (0)7970 338724