Boehringer Ingelheim announced today that it inaugurated a biomass powerplant at its Ingelheim, Germany site.

The pharmaceutical company — one of the largest in the world — opened the new plant to optimize its energy supply and protect the environment. With the new plant, the company expects to save around 50,000 tons of CO₂. It says the plant reduces the CO₂ emissions of the site’s own energy generation by 70%.

In total, Boehringer Ingelheim plans to invest €205 million (nearly $222 million) in sustainable infrastructure projects at the Ingelheim site. It expects to cover 95% of its energy requirements from renewable sources in the future. The company set a goal of making its business operations CO₂-neutral by 2030. Its sites in Dortmund, Germany, Gainesville, Georgia (U.S.), Zhangjian, China, and Sant Cugat, Spain, all have carbon-neutral certification.

German Vice Chancellor and Federal Minister of Economics Robert Habeck and Rhineland-Palatinate Environment Minister Katrin Eder attended the company’s ceremonial inauguration for the green energy plant.

“Part of our sustainability goals is to protect natural resources so that our earth remains a place worth living in for people and animals. With an environmentally friendly and more independent energy supply, we are ensuring stable production in order to be able to deliver medications for patients worldwide,” said Michael Schmelmer, vice chair of the Boehringer Ingelheim board.