Syngenta, a global leader in agricultural innovation, and Statkraft, a provider of green energy solutions in Europe, have formalized a virtual power purchase agreement (vPPA) for a five-year period. Through this financial mechanism, the company obtains certificates of origin for the agreed-upon volume of electricity, ensuring the renewable backing of its industrial activities in the region. The main advantage of the vPPA is that it allows companies like Syngenta to meet their environmental goals without the need to modify operational processes or physical contracts with local energy suppliers. Sustainability Strategy: Syngenta acquires 625 GWh of green electricity until 2030. The agricultural innovation company and Statkraft agreed on a financial wind energy supply that will cover Syngenta's operations in Europe for five years. In turn, Statkraft acts as a bridge between wind farm operators that have ended their government subsidy periods and companies that require long-term clean energy. The model used is based on the generation capacity of onshore wind turbines in the German market, allowing Syngenta to secure market-indexed green electricity. This strategic contract covers Syngenta's Crop Protection (CP) and Seeds operations, with an annual volume of 125 GWh, reaching a total of 625 GWh of green electricity by the end of the commitment in 2030. Advance in the decarbonization strategy This agreement represents Syngenta's first vPPA, marking a milestone on its path to reducing carbon emissions. Rachel Stenson Bugnon, Global Director of CP Procurement at the company, stated that this customized approach allows for significant progress in Syngenta AG's sustainability goals while maintaining operational efficiency across all its European facilities.
