Air Liquide inks its first VPPA with Statkraft in Poland

French industrial gas supplier Air Liquide (EPA:AI) has inked a deal to buy renewable energy certificates (RECs) related to newly installed wind farms owned by Norwegian state-owned energy company Statkraft AS in Poland.

The companies have signed a virtual power purchase agreement (VPPA), the first for Air Liquide, which will allow the French firm to cut its carbon dioxide emissions (CO2) by 38,000 tonnes per year, according to a statement released today.

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The deal is aligned with Air Liquide's ADVANCE strategic plan objectives of reaching a 33% reduction of scope 1 & 2 of its absolute CO2 emissions by 2035 and carbon neutrality by 2050.

“Along with the signature of multiple Corporate PPAs in Europe, in the US, in Asia and in Africa, the conclusion of this Financial PPA is a first-of-its-kind for Air Liquide. It demonstrates the strong commitment and innovation from all teams, business and finance, to contribute to meeting our climate objectives,” said Air Liquide’s CFO Jerome Pelletan.

The new agreement with Statkraft builds on an existing partnership. In mid-2023, Air Liquide agreed to procure wind power from the Nordic firm for its newly built 20-MW electrolysis plant in Germany's Ruhr area.