Air Liquide, a leading global supplier of gases, technologies, and services for industry and health, has recently announced the signing of a groundbreaking Virtual Power Purchase Agreement (VPPA) with Statkraft, Europe's largest producer of renewable energy. This strategic move marks Air Liquide's commitment to innovative financial solutions that contribute to their ambitious decarbonization and sustainability strategy.
As part of its ADVANCE strategic plan, Air Liquide aims to achieve a significant reduction of 33% in scope 1 and 2 absolute CO(2) emissions by 2035, ultimately striving for carbon neutrality by 2050. By leveraging Power Purchase Agreements to source renewable energy, the company is employing a crucial lever to realize these objectives.
This specific VPPA contract entails the supply of renewable energy certificates sourced from Polish wind farms, which are associated with newly installed renewable production capacity. Notably, this agreement will effectively reduce Air Liquide's CO(2) emissions by an impressive 38,000 tonnes per year. Additionally, it will support the decarbonization efforts of Air Liquide's customers in Poland, who can now utilize industrial gases with a notably lower carbon footprint. This strategic initiative also aligns with the country's targets of achieving a minimum 23% share of renewable energies in final energy consumption by 2030.
A Virtual PPA, also referred to as a Financial PPA, represents an innovative transaction that allows for the exchange of a fixed-price for a variable price alongside renewable energy certificates. The successful completion of these contracts significantly benefits both renewable electricity producers and industrial consumers in the long run. Sellers gain the ability to secure a stable level of income, while buyers enjoy enhanced visibility and stability in their energy sourcing costs.
Air Liquide's partnership with Statkraft through this pioneering VPPA exhibits their commitment to driving sustainable and environmentally responsible business practices. By embracing new financial solutions and investing in renewable energy, Air Liquide is strengthening their position as a leader in the transition to a low-carbon future.
Air Liquide Announces First-of-its-Kind Financial Power Purchase Agreement
Air Liquide, a global leader in gases, technologies, and services for Industry and Health, has recently achieved a significant milestone with the conclusion of its first-ever Financial Power Purchase Agreement (PPA). This achievement adds to the company's growing portfolio of Corporate PPAs across Europe, the US, Asia, and Africa. This breakthrough highlights Air Liquide's unwavering commitment to innovation and its contribution towards meeting climate objectives. Furthermore, this success paves the way for future contract signings of this nature.
A Leader in Gases, Technologies, and Services
Air Liquide has established itself as a world leader by providing essential small molecules like oxygen, nitrogen, and hydrogen that are vital to life, matter, and energy. With a presence in 73 countries and a dedicated workforce of approximately 67,100 employees, the company caters to over 3.9 million customers and patients. Since its inception in 1902, Air Liquide has focused on utilizing the elements that form the core of its scientific domain.
Advancing with a Strategic Vision
Air Liquide's strategy revolves around taking action today while preparing for the future. The company's strategic plan for 2025, called ADVANCE, targets holistic growth by combining financial and extra-financial dimensions. By venturing into new markets, Air Liquide leverages its resilient business model, innovative capabilities, and technological expertise. Notably, the company prioritizes solutions that contribute to climate action and the energy transition, with a particular focus on hydrogen. Additionally, Air Liquide aims to make progress in the fields of healthcare, digitalization, and high technologies.
A Profile of Global Success
In the fiscal year 2022, Air Liquide achieved revenues exceeding 29.9 billion euros. As a testament to its strong market presence, the company is listed on the Euronext Paris stock exchange (compartment A) and is included in prestigious indexes such as CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good, and DJSI Europe.
For more information about Air Liquide, please visit www.airliquide.com.
Air Liquide Corporate Communications
Air Liquide is a global leader in the manufacturing and supply of gases, technologies, and services for a wide range of industries. With a strong commitment to sustainability and innovation, the company has become a trusted partner for businesses worldwide.