Syngenta signs virtual electricity purchase agreement in Europe

Syngenta and Statkraft, a provider of green energy solutions in Norway, recently signed a virtual power purchase agreement (vPPA) covering Syngenta’s crop protection and seeds operations for a period of five years. This is Syngenta’s first vPPA, marking a pivotal step in its decarbonization and sustainable development strategy.

The vPPA is a financial supply contract without physical electricity flow. Companies can purchase green electricity and acquire certificates without having to change their operational processes or their energy structure. It is an important way for companies to pursue low-carbon transition.

This agreement leverages Germany’s onshore wind energy resources, with Statkraft consolidating its generation capacity through a “virtual wind farm” model to offer Syngenta flexible, tailor-made green energy solutions. Additionally, the partnership will help ensure the continued operation of wind farms in Germany once their subsidies expire, supporting the stable integration of clean energy into the grid and fostering a win-win situation for both the company’s decarbonization efforts and green growth of the industry.