GlaxoSmithKline Pharmaceuticals (GSK) has announced it will source power from a 4.95 MW solar project of Clean Max Galapagos, a special purpose vehicle (SPV) of CleanMax, in Maharashtra.

GSK has approved an investment of ₹17.4 million (~$196,233.21) to acquire a 26% shareholding in the SPV under the group captive mechanism, which allows industrial consumers to jointly invest in renewable energy projects and utilize the generated power for their consumption.

The power from the solar project will be utilized at GSK’s manufacturing plant in Nashik.

GSK hopes to meet a significant portion of the plant’s electricity needs through clean energy sources.

This move is expected to contribute to GSK’s long-term sustainability targets by reducing dependence on grid-based power and lowering its carbon footprint. The acquisition of the stake in Clean Max Galapagos is expected to be completed within 180 days.

GSK is committed to generating and importing 100% of the electricity from renewable sources by 2030, aligning with its Scope 2 emission reduction strategy. It reported that the reduction in its Scope 1 and 2 carbon emissions in 2024 was mainly driven by multiple sustainability initiatives.

These included energy efficiency measures in manufacturing processes, a continued transition to renewable energy, and reducing propellant emissions during inhaler production.

As a member of the RE100 initiative, the company reaffirmed its commitment to sourcing all imported electricity from renewable sources by 2025. In 2024, it achieved 90% imported renewable electricity, marking an improvement of seven percentage points over 2023, when it stood at 83%.

The company signed a ten-year renewable energy supply deal in June 2024, which will provide 100% renewable power to its manufacturing sites in Singapore starting from 2025.

To expand renewable generation at its own sites, the company also commissioned a 56-acre solar farm and two wind turbines at its Irvine, Scotland, facility in June 2024. This development tripled onsite renewable electricity generation, enabling more than 50% of the plant’s electricity needs to be met from onsite renewable sources.

As part of its EV100 commitment, the company is also transitioning its vehicle fleet to more sustainable options. By 2030, it plans to convert 100% of its fleet to electric or hybrid vehicles and install charging infrastructure at 100 sites worldwide.

In January, Ahmedabad-based pharma company Concord Biotech acquired a 26% stake in an SPV of CleanMax to procure power from a 9.9 MW renewable energy project.

Another pharma company, Akums Drugs & Pharmaceuticals, installed a 600 kW rooftop solar power system at one of its facilities in Uttarakhand