DALLAS, Dec. 21, 2021 /PRNewswire/ -- Vesper Energy ("Vesper"), a leading developer, owner and operator of utility-scale renewable energy assets, today announced it entered into a 15-year virtual power purchase agreement (VPPA) with Zoetis, the world's leading animal health company. Vesper will deliver more than 40 megawatts (MW) of renewable energy to the grid to power approximately 33 percent of Zoetis' North American operations' projected energy needs.
"At Zoetis, we are committed to protecting our planet while we fulfill our purpose to nurture the world and humankind by advancing care for animals," said Jeannette Ferran Astorga, Chief Sustainability Officer at Zoetis. "Partnering with Vesper Energy to make our North American operations cleaner and more sustainably powered is another step in our sustainability journey as we achieve our renewable energy goals."
The solar energy will be generated from Vesper's 500MW Hornet Solar project in west Texas, which is targeted to be fully operational by the end of 2023.
"We're proud to work with Zoetis to power a significant portion of their North American operations via solar energy and congratulate the entire Zoetis team for continuing to play their part in materially contributing to a sustainable, decarbonized future," said Vesper Energy CEO Craig Carson.
Vesper Energy is majority-owned by funds and accounts managed by Magnetar Capital through its Energy & Infrastructure business.
About Vesper Energy
Vesper Energy is a North American developer, owner and operator of utility-scale renewable energy and energy storage assets. It has commercialized over 680 MW of solar projects in the U.S. and has an existing 3 GW solar and 2.5 GWh energy storage development pipeline. Vesper Energy started as Lendlease Energy Development in 2015 and rebranded as Vesper Energy in 2020, after Magnetar Capital, on behalf of certain of its funds and accounts, partnered with management to acquire the business.
As the world's leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After nearly 70 years innovating ways to predict, prevent, detect, and treat animal illness, Zoetis continues to stand by those raising and caring for animals worldwide -- from livestock farmers to veterinarians and pet owners. The company's leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $6.7 billion in 2020 with approximately 11,300 employees. For more information, visit www.zoetis.com
SOURCE Vesper Energy
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