Air Products and Tatung Forever Energy Sign Power Purchase Agreement for Solar Electricity in Taiwan
Air Products San Fu Co. , a subsidiary of Air Products (NYSE: APD), has signed a 10-year Power Purchase Agreement (PPA) with Tatung Forever Energy for solar electricity in Taiwan. The agreement, starting in Q4 2024, will help Air Products San Fu reduce its carbon footprint and support Taiwan's industrial decarbonization efforts. The renewable energy sourced will avoid CO2 emissions equivalent to the electricity-related emissions from over 80,000 Taiwanese households during the agreement period.
This strategic partnership aligns with Air Products' commitment to addressing climate change and supporting sustainable development in Taiwan's industrial gases sector. Air Products San Fu, with over 70 years of presence in Taiwan, operates more than 60 production facilities serving diverse markets and holds leading positions in key science industry parks.
Air Products San Fu Co., una filiale di Air Products (NYSE: APD), ha firmato un contratto di acquisto di energia elettrica (PPA) della durata di 10 anni con Tatung Forever Energy per elettricità solare a Taiwan. L'accordo, che entrerà in vigore nel quarto trimestre del 2024, aiuterà Air Products San Fu a ridurre la propria impronta di carbonio e supportare gli sforzi di decarbonizzazione industriale di Taiwan. L'energia rinnovabile ottenuta eviterà emissioni di CO2 equivalenti a quelle generate dall'elettricità di oltre 80.000 famiglie taiwanesi durante il periodo dell'accordo.
Questa partnership strategica è in linea con l'impegno di Air Products di affrontare il cambiamento climatico e di sostenere lo sviluppo sostenibile nel settore dei gas industriali di Taiwan. Air Products San Fu, con oltre 70 anni di presenza a Taiwan, gestisce più di 60 impianti di produzione che servono diversi mercati e occupa posizioni di leadership nei principali parchi industriali scientifici.
Air Products San Fu Co., una subsidiaria de Air Products (NYSE: APD), ha firmado un contrato de compra de energía (PPA) por 10 años con Tatung Forever Energy para electricidad solar en Taiwán. El acuerdo, que comenzará en el cuarto trimestre de 2024, ayudará a Air Products San Fu a reducir su huella de carbono y a apoyar los esfuerzos de descarbonización industrial de Taiwán. La energía renovable obtenida evitará emisiones de CO2 equivalentes a las emisiones relacionadas con la electricidad de más de 80,000 hogares taiwaneses durante el período del acuerdo.
Esta asociación estratégica está alineada con el compromiso de Air Products de abordar el cambio climático y de apoyar el desarrollo sostenible en el sector de gases industriales de Taiwán. Air Products San Fu, con más de 70 años de presencia en Taiwán, opera más de 60 instalaciones de producción que atienden a diversos mercados y ocupa posiciones de liderazgo en parques industriales clave de ciencia.
Air Products San Fu Co., Air Products(NYSE: APD)의 자회사,가 타이완의 Tatung Forever Energy와 태양광 전기를 위한 10년 파워 구매 계약(PPA)에 서명했습니다. 2024년 4분기부터 시작되는 이 계약은 Air Products San Fu가 탄소 발자국을 줄이는 데 도움이 되고 타이완의 산업 탈탄소화 노력을 지원할 것입니다. 조달된 재생 가능 에너지는 계약 기간 동안 80,000가구 이상의 대만 가정에서 발생하는 전기 관련 CO2 배출량을 피할 수 있습니다.
이 전략적 파트너십은 기후 변화 문제를 해결하고 타이완 산업가스 부문에서 지속 가능한 발전을 지원하려는 Air Products의 약속과 일치합니다. Air Products San Fu는 타이완에서 70년 이상의 역사를 가지고 있으며, 다양한 시장에 서비스를 제공하는 60개 이상의 생산 시설을 운영하고 있으며, 주요 과학 산업 공원에서 선도적인 입지를 차지하고 있습니다.
Air Products San Fu Co., une filiale d'Air Products (NYSE: APD), a signé un contrat d'achat d'électricité (PPA) de 10 ans avec Tatung Forever Energy pour électricité solaire à Taïwan. L'accord, qui commence au quatrième trimestre 2024, aidera Air Products San Fu à réduire son empreinte carbone et à soutenir les efforts de décarbonisation industrielle de Taïwan. L'énergie renouvelable fournie évitera des émissions de CO2 équivalentes aux émissions liées à l'électricité de plus de 80 000 ménages taïwanais pendant la durée de l'accord.
Ce partenariat stratégique s'inscrit dans l'engagement d'Air Products à lutter contre le changement climatique et à soutenir le développement durable dans le secteur des gaz industriels de Taïwan. Air Products San Fu, présent à Taïwan depuis plus de 70 ans, exploite plus de 60 installations de production desservant divers marchés et occupe des positions de leader dans les principaux parcs industriels scientifiques.
Die Air Products San Fu Co., eine Tochtergesellschaft von Air Products (NYSE: APD), hat einen 10-jährigen Stromabnahmevertrag (PPA) mit Tatung Forever Energy für Solarenergie in Taiwan unterzeichnet. Der Vertrag, der im vierten Quartal 2024 in Kraft tritt, wird Air Products San Fu helfen, seinen CO2-Fußabdruck zu reduzieren und die Bemühungen zur Dekarbonisierung der Industrie in Taiwan zu unterstützen. Der bezogene erneuerbare Strom wird CO2-Emissionen vermeiden, die den elektrizitätsbedingten Emissionen von über 80.000 taiwanesischen Haushalten während der Vertragslaufzeit entsprechen.
Diese strategische Partnerschaft steht im Einklang mit dem Engagement von Air Products, den Klimawandel zu bekämpfen und nachhaltige Entwicklung im Industriesektor für Industriegase in Taiwan zu unterstützen. Air Products San Fu, das seit über 70 Jahren in Taiwan tätig ist, betreibt mehr als 60 Produktionsanlagen, die verschiedene Märkte bedienen, und hat führende Positionen in wichtigen wissenschaftlichen Industrieparks.
- 10-year Power Purchase Agreement for solar electricity signed, demonstrating long-term commitment to sustainability
- Reduction in carbon footprint equivalent to emissions from 80,000 Taiwanese households over the agreement period
- Strategic positioning to support customers' sustainability goals and Taiwan's industrial decarbonization efforts
- Strong market presence with over 60 production facilities serving diverse industries in Taiwan
- None.
Insights
This PPA marks a significant step in Air Products' sustainability efforts in Taiwan. By sourcing renewable energy for industrial gas production, the company is aligning with global decarbonization trends. The 10-year commitment demonstrates long-term planning and could potentially enhance Air Products' competitive position in an increasingly environmentally conscious market.
The agreement's impact on avoiding CO2 emissions equivalent to 80,000 households is substantial. This move may positively influence Air Products' ESG ratings, potentially attracting environmentally conscious investors. However, it's important to note that this represents only a portion of their energy consumption, indicating room for further sustainability improvements.
For investors, this strategic decision could translate to long-term cost stability and reduced exposure to fossil fuel price volatility, potentially enhancing the company's financial resilience in the face of stricter environmental regulations.
This PPA is a strategic move for Air Products in the competitive industrial gases sector. By transitioning to renewable energy, the company is future-proofing its operations against potential carbon pricing mechanisms and stricter environmental regulations in Taiwan.
The agreement could provide a competitive edge in attracting and retaining clients, especially in high-tech industries like semiconductors and TFT-LCD, where sustainability is increasingly important. Air Products' strong position in key science industry parks and extensive pipeline networks make this green initiative particularly impactful.
However, investors should note that the financial terms of the PPA are not disclosed. The impact on operational costs and profitability remains unclear, which is important for assessing the full implications of this move on Air Products' financial performance in the Taiwan market.
Under the PPA, which begins in the fourth quarter of 2024, Air Products San Fu will source a portion of its energy consumption for industrial gases production from a reliable and renewable energy source. The renewable electricity will allow Air Products San Fu to avoid carbon dioxide (CO2) emissions equivalent to the electricity-related emissions from more than 80,000 households in Taiwan over the duration of the agreement.
"We are excited to collaborate with Tatung Forever Energy as we take a significant step in the transition to green energy. This strategic agreement will enable us to reduce our environmental footprint and help customers in various sectors achieve their sustainability goals," said Paul Yang, president of Air Products San Fu. "As a leading industrial gases player in
Huang Yun-Wei, general manager of Tatung Forever Energy, added, "With international awareness of carbon reduction on the rise, the demand for renewable energy is growing rapidly. We are very glad to cooperate with enterprises like Air Products San Fu on solar electricity and look forward to our further collaboration to achieve carbon neutrality through improved power stability and utilization efficiency."
Air Products has been serving the
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects supporting the transition to low- and zero-carbon energy in the heavy-duty transportation and industrial sectors. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and provides turbomachinery, membrane systems and cryogenic containers globally.
The Company had fiscal 2023 sales of
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This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.
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