Haleon Backs Spanish Solar Projects Valle 3 and Sinfonía Through Two Virtual PPAs with Lightsource bp

Global consumer health company Haleon has entered two long-term virtual Power Purchase Agreements with solar developer Lightsource bp, the companies announced on 4 November.

Consumer Health Giant Extends Decarbonisation into Its Supply Chain

The agreements are tied to the Valle 3 and Sinfonía solar projects, both situated in Valladolid, in Spain's Castilla y León region. The deals form part of Haleon's strategy to cut electricity-related emissions across its EU supply chain, an effort pursued through the company's Renewable Electricity Value Chain (REV) approach. Chris Low, Head of Procurement Sustainability at Haleon, said REV "combines supplier engagement, renewable electricity procurement and innovative commercial structures to act where they can have the greatest impact."

How the Virtual Structure Works

Under the agreements, Haleon can back new renewable generation without any physical delivery of power to its own facilities or to its suppliers. Virtual PPAs allow companies to support renewable capacity while their electricity consumption continues through existing supply arrangements. The contracts also include commercial mechanisms intended to provide greater certainty in an evolving energy market.

According to the announcement, these mechanisms serve Haleon's long-term decarbonisation goals alongside its procurement resilience, a priority in light of the volatility that has defined energy markets in recent years. Lightsource bp said it drew on its market understanding, commercial structuring capability and risk-management expertise to build a solution matched to Haleon's objectives.

Statements from Both Sides

Zosia Riesner, Chief Commercial Officer at Lightsource bp, described the deal as proof the company can adapt to shifting market conditions. "These agreements demonstrate our ability to develop tailored solutions in an evolving market, combining deep market insight and robust commercial structuring with the high sustainability standards our customers value," she said.

"We are pleased to support Haleon's long-term decarbonisation and procurement resilience while enabling further renewable energy generation in Spain." Low framed the partnership as reflecting a wider view of how climate goals intersect with commercial decisions. "There is no single solution to decarbonising a global supply chain," he said. "These agreements demonstrate how climate action can be integrated into long-term business and procurement decisions."

Iberian Demand and Further Capacity

Lightsource bp said the partnership reflects ongoing demand for long-term renewable power solutions across Iberia. The company reports having additional solar PV and hybrid projects available and is actively seeking new offtake partners prepared to secure reliable, long-term electricity supply for their energy goals. Valle 3 and Sinfonía add to Lightsource bp's expanding portfolio of solar developments in Spain, where the company has been bringing renewable generation to market and structuring commercial agreements with corporate buyers.

The Wider Picture for Corporate Buyers

The agreements illustrate the increasing role virtual PPAs play in corporate decarbonisation, especially for multinationals targeting emissions in their value chains rather than only in direct operations.

Scope 3 emissions, which occur in a company's value chain, are frequently the largest and hardest category to tackle, and renewable electricity procurement has become one instrument companies use to influence supplier-related emissions.

The deal also highlights how renewable developers now position themselves not merely as generators but as providers of tailored commercial structures that help corporate buyers manage sustainability targets and energy market risk. Lightsource bp's announcement presents the arrangement as a template for further partnerships, with additional offtake capacity available across the region.