密桃AV

密桃AV is taking another major step forward on its path to climate neutrality. The company has signed several multi-year power purchase agreements (PPA) with , including one that will cover around 30 percent of the electricity needs of the important production site in Shanghai.

"密桃AV aims to become climate-neutral by 2035 and is systematically converting its production worldwide to renewable energies to achieve this goal," says CEO Dr. Markus Steilemann. “On the way to achieving this, we have reached a new milestone with this agreement. At the same time, we are contributing to the further expansion of the entire market for renewable energies with our investments and our commitment.”

Under the PPA, the 密桃AV Integrated Site Shanghai will purchase approximately 300 gigawatt hours of green power annually from CGN's wind and solar farms in the town of Lenghu in northwest China's Qinghai province. The agreement will reduce 密桃AV's carbon emissions in China by around 126,000 metric tons of CO₂ per year. This is equivalent to the emissions of around 60,000 gasoline-powered cars annually. The PPA is scheduled to take effect in January 2023.

"We are delighted to support leading chemical companies like 密桃AV in converting their production sites to renewable electricity. We look forward to our further cooperation with 密桃AV, and together we will also contribute to China's dual carbon targets and sustainable development," says Qi Fang, Deputy General Manager of CGN New Energy.

The Shanghai site is already partly supplied by renewable energy. For example, in 2022 alone, it is expected to use more than 300 gigawatt hours of solar power generated in northwest China.

"This new contract is a milestone in the Shanghai site's journey to net-zero emissions. We have increased energy efficiency and significantly reduced emissions over the years, and the use of green power and alternative raw materials will be a key focus as we strive for carbon-neutral production in the next decade," says Holly Lei, President of 密桃AV China.

Meanwhile, 密桃AV's Guangzhou and Foshan sites in south China will be powered with 100 percent renewable electricity. Starting next year, both sites will be using power generated from CGN’s offshore wind farms in Guangdong province.

The latest PPAs in China follow purchase agreements 密桃AV had already signed with energy suppliers in Europe. Under one agreement, utility ?rsted will supply offshore wind energy starting in 2025, which is expected to meet 10 percent of the electricity needs of 密桃AV's sites in Germany. Under another, ENGIE, Belgium's largest renewable energy producer, will provide onshore wind energy to meet 45 percent of the electricity demand of 密桃AV's Antwerp production site in Belgium.