PARIS--(BUSINESS WIRE)--Regulatory News:
Air Liquide (Paris:AI) has signed its biggest long-term Power Purchase Agreement (PPA) to date with approximately 115 MW of new offshore wind electricity, purchased to Vattenfall in the Netherlands. This PPA comes in addition to a previous agreement announced with Vattenfall in March 2021, expanding the long-term partnership between the two groups. It reaffirms Air Liquide's commitment to lead the way in decarbonizing the European industry while lowering its own carbon footprint, in line with its Sustainable Development objectives.
Air Liquide has signed a 15 year contract starting in 2025 with Vattenfall, one of Europe’s leading producers and retailers of electricity. The renewable energy will be generated by the Hollandse Kust Zuid (HKZ) subsidy-free, worldscale offshore wind farm under construction by Vattenfall off the Dutch coast.
This agreement will enable Air Liquide to supply its current industrial and medical gas production assets in the Netherlands and more generally in Benelux with renewable energy. It will also feed some of its large-scale decarbonization projects in the region and accompany the acceleration of its customers’ demand growth for low-carbon gases. This agreement will allow Air Liquide to cover more than 30% of the Group's current electricity consumption in the Benelux.
Over the contract duration, this will avoid the emission of up to 3.5 million tonnes of CO2, which is comparable to the emissions generated by over 150,000 Dutch households. This contract will significantly 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.
Pascal Vinet, Senior Vice President and a member of Air Liquide’s Executive Committee, supervising Europe Industries activities, said: “ This long term power purchase agreement represents a major step-up in Air Liquide’s renewable energy sourcing as it is the largest renewable energy PPA we have signed to date. Securing access to renewable energy is a key element of Air Liquide’s decarbonization and Sustainable Development strategy. It allows the Group not only to significantly reduce its carbon footprint but also to meet the growing demand from its customers for competitive low-carbon solutions. With this PPA, Air Liquide also strongly confirms its commitment to actively support the energy transition in Europe. "
About Air Liquide Benelux
Air Liquide in Benelux comprises subsidiaries active in the production, distribution, and sale of industrial and medical gases, technologies and services of the Air Liquide Group. Founded in Belgium in 1906 and in the Netherlands in 1913, Air Liquide currently operates 26 industrial sites throughout the Benelux. The Group currently employs more than 1,200 people in this region, all activities taken together, and it supplies more than 116,000 customers and patients. The Air Liquide Benelux Large Industries business line operates a pipeline network stretching 2,345 kilometers, which supplies the industrial basins from Mons to Rotterdam.
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 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.
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 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.