PARIS--(BUSINESS WIRE)--Regulatory News:
Air Liquide (Paris:AI) has signed a long-term Power Purchase Agreement (PPA) with Vattenfall, one of Europe’s largest producers and retailers of electricity and heat, to purchase a total of 25 megawatts of offshore wind capacity in the Netherlands. Following PPA agreements in the United States and Spain, this is the first PPA signed by the Group in the Netherlands. It restates Air Liquide's commitment to lead the way in the energy transition and to lower its carbon footprint, in line with its Climate Objectives.
Thanks to this 15 year long-term contract, Air Liquide will be able to supply with renewable energy some of its industrial and medical gas production assets in the Netherlands. This includes the first world-scale oxygen production plant fit to accommodate renewable energy in the grid, which the Group is building in the port of Moerdijk.
The renewable energy will come from a wind farm located between 18-36km off the Dutch coast. This offshore wind farm is currently under development and scheduled to be operational by 2023. This will be the first subsidy-free and world’s largest offshore wind farm.
Over the duration of the contract, Air Liquide will source renewable energy equivalent to 15% of the Group's current consumption for its activities in the Netherlands. The wind-generated electricity will save up to 750,000 tons of CO2 emissions over the contract duration. This agreement will expand Air Liquide's offer of low-carbon solutions at competitive prices and give customers the ability to add more renewable content in their end products.
François Jackow, Executive Vice-President and a member of the Executive Committee supervising Europe Industries activities, said: “This agreement will enable us to provide our customers with solutions contributing to the reduction of CO2 emissions, in line with our Climate Objectives. In the context of an unprecedented transformation of the energy sector in Europe, Air Liquide is accelerating its commitment to take a leading role in the energy transition by supporting the development of renewable resources to foster a low-carbon economy in Europe.”
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 78 countries with approximately 64,500 employees and serves more than 3.8 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.
Air Liquide’s ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability - with a strong commitment to climate change and energy transition at the heart of its strategy. The company’s customer-centric transformation strategy aims at profitable, regular and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.
Air Liquide’s revenue amounted to more than 20 billion euros in 2020. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.