Air Liquide Signs its first Virtual Power Purchase Agreement
13 Febbraio 2024 - 10:28AM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) has signed a long-term Virtual Power
Purchase Agreement (“VPPA”) with Statkraft, the largest producer of
renewable energy in Europe. This is a first-of-its-kind for Air
Liquide, which innovates financially to contribute to the Group’s
decarbonization and sustainability strategy.
Sourcing renewable energies through Power Purchase Agreements is
one of the levers to support Air Liquide's ADVANCE strategic
plan objectives of reaching a -33% reduction of scope 1 & 2
of its absolute CO2 emissions by 2035, and carbon neutrality by
2050.
The contract provides for the supply of renewable energy
certificates from Polish wind farms, linked to newly installed
renewable production capacity. It will contribute to
reducing CO2 emissions of Air Liquide by 38,000 tonnes/year, and
help customers in Poland decarbonize their operations, by
using industrial gases with a lower carbon footprint. This
agreement also supports the country’s target to reach at least 23%
share of renewable energies in final energy consumption in
2030.
A Virtual PPA, also known as Financial PPA, is an innovative
transaction exchanging a fixed-price for a variable price and
renewable energy certificates. The completion of such contracts
is beneficial to both renewable electricity producers and
industrial consumers in the long term. It enables the seller to
secure a given level of income and it grants the buyer
visibility and stability on part of its energy sourcing
costs.
Jérôme Pelletan, Chief Financial Officer, Member of the
Executive Committee, said: “Along with the signature of multiple
Corporate PPAs in Europe, in the US, in Asia and in Africa, the
conclusion of this Financial PPA is a first-of-its-kind for Air
Liquide. It demonstrates the strong commitment and innovation from
all teams, business and finance, to contribute to meeting our
climate objectives. This will clear the path for the signature of
more contracts of this type in the future”.
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 73 countries with
approximately 67,100 employees and serves more than 3.9 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide’s scientific territory and have been at the core of the
company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart
of Air Liquide’s strategy. With ADVANCE, its strategic plan for
2025, Air Liquide is targeting a global performance, combining
financial and extra-financial dimensions. Positioned on new
markets, the Group benefits from major assets such as its business
model combining resilience and strength, its ability to innovate
and its technological expertise. The Group develops solutions
contributing to climate and the energy transition—particularly with
hydrogen—and takes action to progress in areas of healthcare,
digital and high technologies.
Air Liquide’s revenue amounted to more than 29.9 billion euros
in 2022. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX
50, FTSE4Good and DJSI Europe indexes.
www.airliquide.com Follow Air Liquide on
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version on businesswire.com: https://www.businesswire.com/news/home/20240213578088/en/
Corporate Communications media@airliquide.com
Investor Relations IRTeam@airliquide.com
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