Air Liquide signs first long-term Power Purchase Agreement for renewable electricity in China
June 16 2023 - 2:45AM
Business Wire
Regulatory News:
Air Liquide (Paris:AI) has signed a long-term
Power Purchase Agreement (PPA) with the China Three Gorges
Renewables and China Three Gorges Corporation Jiangsu Branch,
subsidiaries of China Three Gorges, one of China’s largest
producers and retailers of renewable electricity, to purchase a
total of 200 MW of renewable power per year in China. Following
PPAs in the United States, Europe and South Africa, and several
short-term renewable and low-carbon PPAs in China, this is the
first long-term PPA signed by Air Liquide in China. It highlights
Air Liquide's commitment to lead the way in the energy transition
and to lower its carbon footprint, in line with its ADVANCE
strategic program.
The renewable electricity will come from solar and wind farms
located in the province of Jiangsu, which is the first province in
China for Air Liquide in terms of electricity consumption. The
generated electricity will reduce by up to 120,000 tonnes the CO2
emissions per year compared to today’s emissions. This is
comparable to the electricity-related emissions of more than
300,000 Chinese households.
The renewable electricity will contribute to the production of
industrial and medical gases in China. This agreement, which will
start in January 2024, will allow Air Liquide to produce gases with
a lower carbon footprint at competitive prices and give customers
the ability to add more renewable content in their end
products.
Francois Abrial, Member of the Air Liquide Group’s
Executive Committee supervising Asia Pacific, said: “As the
first long-term PPA for renewable electricity signed by Air Liquide
in China, this agreement represents a new significant step in the
decarbonization of the Group's activities towards carbon
neutrality. It will allow us to lower our carbon footprint but also
to meet the growing demand from our customers for competitive
low-carbon solutions. This is in line with our strategic plan
ADVANCE, which inseparably combines financial and extra-financial
performance.”
Air Liquide China
Air Liquide in China operates more than 120 plants and employs
nearly 5,000 employees. With a strong presence in the key coastal
industrial areas, Air Liquide is now expanding into the center,
south and west. Its main business activities include industrial and
medical gas operations, home health service, Engineering &
Construction (designing, manufacturing and installing air
separation units/hydrogen facilities), as well as Innovation
activities.
About Air Liquide Group
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 us on
Twitter @airliquidegroup
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