Air Liquide Signs Groundbreaking Agreement with Statkraft for Virtual Power Purchase Agreement
Air Liquide has signed a groundbreaking agreement with Statkraft, marking it as a first-of-its-kind for the company. The long-term Virtual Power Purchase Agreement (VPPA) is in line with Air Liquide’s commitment to decarbonization and sustainability, supporting its ADVANCE strategic plan objectives.
The VPPA entails the supply of renewable energy certificates from Polish wind farms. This move is set to contribute significantly to Air Liquide’s objectives of achieving a -33% reduction in scope 1 and 2 of its absolute CO2 emissions by 2035, and eventually attaining carbon neutrality by 2050.
Importantly, this agreement will also aid Polish customers in decarbonizing their operations, resulting in a reduction of 38,000 tonnes/year of CO2 emissions for Air Liquide. This significant step supports Poland’s renewable energy consumption target for 2030, further highlighting the company’s commitment to sustainable energy sourcing.
According to Jérôme Pelletan, this Financial PPA is a noteworthy achievement for Air Liquide. It exemplifies the company’s dedication and innovation in meeting climate goals. Furthermore, this landmark agreement paves the way for future contracts of this nature.
Air Liquide, known for its expertise in gases, technologies, and services, operates in 73 countries worldwide. With over 67,100 employees, the company serves an impressive customer base of more than 3.9 million customers and patients. Founded in 1902, Air Liquide focuses on essential elements like oxygen, nitrogen, and hydrogen, which are vital for life, matter, and energy.
The company’s strategic plan, ADVANCE, aims to achieve comprehensive performance in both financial and extra-financial aspects. Air Liquide strives to foray into new markets, leveraging its business model, innovation capabilities, and technological expertise to develop solutions that contribute to climate and energy transition, with a particular emphasis on hydrogen. Additionally, the company is dedicated to advancements in healthcare, digital technology, and high technologies.
Air Liquide reported a revenue exceeding 29.9 billion euros in 2022 and is listed on the Euronext Paris stock exchange. With its recent VPPA agreement, Air Liquide solidifies its position as a pioneer in sustainable energy initiatives, paving the way for a greener future.
Analyst comment
Positive news: Air Liquide has signed a groundbreaking agreement with Statkraft for a long-term Virtual Power Purchase Agreement (VPPA) that supports its commitment to decarbonization. The agreement will contribute significantly to reducing CO2 emissions and aid Polish customers in decarbonizing their operations. This supports Poland’s renewable energy consumption target and highlights Air Liquide’s commitment to sustainable energy sourcing.
As an analyst, I predict that this agreement will have a positive impact on the market, as it solidifies Air Liquide’s position as a pioneer in sustainable energy initiatives and opens doors for future contracts of this nature. It also aligns with the company’s strategic plan, ADVANCE, and its focus on new markets, innovation capabilities, and technological expertise. Investors may view this as a positive development that enhances Air Liquide’s reputation and potential for growth in the green energy sector.
