Linde an industrial gases and engineering company, has inked two significant power offtake agreements in China, securing an annual procurement of 320 gigawatt-hours (GWh) of solar energy. The power purchase agreements (PPAs) were formalized with Guangdong Energy Group (GEG) and China Three Gorges Corporation (CTG), each spanning a 25-year term and slated to take effect in the first quarter of 2024.
As outlined in the press release issued on Thursday, the contracted solar power will be derived from projects situated in the provinces of Guangdong and Jiangsu. Linde's strategic move aligns with its commitment to achieving a 2035 emissions reduction target, aiming to supply industrial gases with a diminished carbon intensity to its Chinese clientele at a competitive price. Will Li, President of Greater China at Linde, emphasized, “These agreements take us another step towards our 2035 emissions reduction target and enable us to supply industrial gases with a lower carbon intensity to our customers in China at a competitive price.”
The extensive scope of the agreements with GEG and CTG underscores Linde's dedication to sustainable practices and contributes to the global shift towards renewable energy sources. The agreements are poised to make a notable impact on Linde's operations in China, fostering a more environmentally conscious approach to industrial gas production and distribution. The commencement of these agreements in 2024 marks a pivotal moment for Linde as it strategically navigates the evolving landscape of clean energy solutions in the Chinese market