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Air Liquide and Shell Sign a Ten-Year Agreement for Renewable Electricity in Italy
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Air Liquide has signed a ten-year contract with Shell Energy Europe Limited for renewable energy supply to its industrial and medical gas production in North East Italy. Starting in 2023, Air Liquide will purchase 52 gigawatt-hours of solar energy annually, equating to 42 megawatts of installed solar capacity. The move aims to reduce carbon emissions by approximately 24,000 tonnes yearly. This agreement highlights Air Liquide's ongoing commitment to sustainability and the energy transition, aligning with its strategic goals.
Positive
Long-term contract for renewable energy enhances sustainability efforts.
Estimated 24,000 tonnes of CO2 emissions reduction annually supports climate goals.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Air Liquide (Paris:AI)has signed a ten-year contract with Shell Energy Europe Limited (SEEL) for the purchase of renewable energy to power industrial and medical gas production operations in the North East of Italy.
From 2023, and for ten years, Air Liquide will purchase 52 gigawatt-hours per year of solar photovoltaic renewable energy from Shell Energy Europe in Italy. The equivalent solar photovoltaic installed capacity necessary to deliver this quantity is 42 megawatt. The purchase of this renewable energy will allow Air Liquide to cover a large part of the electricity consumption for the production of industrial and medicinal gases in the North East of Italy. The agreement will result in around 24,000 tonnes of carbon dioxide emissions being saved a year, comparable to the emissions generated by around 4,000 households.
Pascal Vinet, Senior Vice President and a member of the Air Liquide Group’s Executive Committee supervising Europe Industries activities, said: « With this new contract, Air Liquide takes another step towards the energy transition, supplying its operations with ever-increasing amounts of renewable electricity. This agreement demonstrates, once again, our ability to provide our customers with solutions contributing to CO2 emissions reduction and illustrates the Group commitment to implement concrete actions to foster a low-carbon society, in line with our Sustainability Objectives. »
Rupen Tanna, General Manager for Power at Shell Energy Europe, said: « Across Shell Energy Europe, we are focused on delivering a range of clean power solutions to help customers reduce their emissions and we are delighted to help Air Liquide progress their decarbonisation goals. We have a growing portfolio of renewable energy and this supports the expansion of clean energy developments in countries where we operate. »
Air Liquide has previously signed agreements for renewable power in several geographies such as the United States, Spain, the Netherlands and Belgium. This new contract signed in Italy underlines Air Liquide's commitment to play a leading role in the energy transition and reduce its carbon footprint, in line with its sustainability objectives.
Shell Energy Europe is present in 14 European power markets, offtakes renewable power from wind farms and solar parks in mainland Europe and the UK, providing business customers with innovative, reliable and cleaner energy solutions and helping them navigate through the energy transition. Shell Energy Europe Limited acts through its agent, Shell Trading and Shipping Company Limited.
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.
What is the significance of Air Liquide's contract with Shell Energy Europe Limited?
The contract enables Air Liquide to purchase 52 gigawatt-hours of renewable energy annually, supporting its industrial and medical gas production while significantly reducing carbon emissions.
How much renewable energy will Air Liquide purchase from Shell?
Air Liquide will purchase 52 gigawatt-hours of solar photovoltaic renewable energy per year for ten years.
When does Air Liquide's renewable energy contract with Shell start?
The contract begins in 2023 and lasts for ten years.
What are the environmental benefits of Air Liquide's new energy contract?
The contract is expected to save around 24,000 tonnes of CO2 emissions each year, equivalent to the emissions produced by about 4,000 households.
How does this contract align with Air Liquide's sustainability goals?
This agreement underscores Air Liquide's commitment to increasing renewable energy usage and reducing its carbon footprint, consistent with its sustainability objectives.
