Linde Signs Long-Term Agreements to Purchase Renewable Energy in China
Woking, UK, February 1, 2024 - Linde (Nasdaq: LIN) announced today it has signed two new long-term power purchase agreements for the supply of renewable energy in China.
Linde has signed separate 25-year agreements with Guangdong Energy Group (GEG) and China Three Gorges Corporation (CTG) to secure a total of 320 gigawatt hours per year of renewable energy. The renewable power will be generated by solar projects located in the provinces of Guangdong and Jiangsu, and supply is due to start in the first quarter of 2024.
These and other recent renewable energy agreements support Linde’s progress towards its science-based absolute greenhouse gas reduction target for 2035 and its 2050 climate neutrality ambition.
In addition to reducing Linde’s Scope 2 emissions, the renewable energy will help Linde’s customers decarbonize their processes by using industrial gases with a lower carbon footprint. Linde’s solutions, technologies and services help customers avoid more than two times the emissions generated by Linde’s own operations.
“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,” said Will Li, President Greater China, Linde. “They are central to two important objectives for the company: helping our customers to decarbonize and reducing Linde’s own emissions.”
About Linde
Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet.
The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit www.linde.com.