EDF Renewables China and Albemarle Corporation (NYSE: ALB) entered into a five-year green power purchase agreement (PPA), which is the first long-term green power PPA that EDF Renewables has entered into in the Chinese market since the launch of the national green power trading pilot scheme in September 2021. This agreement represents a significant step towards achieving sustainable development goals for both EDF Renewables China and Albemarle and will contribute to the decarbonization of China’s energy structure, furthering the nation’s goals of carbon peaking and carbon neutrality. Fangda, acting as legal counsel to EDF Renewables, provided comprehensive legal services for the transaction.

According to the transaction, EDF Renewables will supply green power from its various wind farms in Guangxi to Albemarle’s factories located in the Qinzhou Port area of Guangxi. Over the five-year period, EDF Renewables will supply approximately 500 GWh of electricity to Albemarle. The transaction will help Albemarle to reduce its carbon emissions by over 400,000 tons annually. This reduction will align with Albemarle’s objective to use 100% green power for production in China. Under the transaction, a power sales company affiliated with SDIC Power will act as an electricity retailer, marking an innovative adoption of the “sleeved PPA” model in China.

EDF Renewables is the global renewable energy affiliate of the EDF Group. As a global leader in energy transition, EDF Renewables is dedicated to investing in, developing, building, and operating renewable power plants. Present in 22 countries, EDF Renewables has extensive experience in green power trading.

The Fangda team was led by partner Joe Zhou. Team members included Helen Huang, Neal Yang and Emma Zhao.