LyondellBasell and Grenergy signed 5 long-term solar energy buy agreements (PPAs).
Underneath the 15-year contracts, the Spanish renewable vitality producer will provide photo voltaic vitality from the La Cereal photo voltaic farm undertaking, which is predicted to be operational on the finish of 2025. The agreements characterize about 329,000 megawatt-hours (MWh) of solar energy yearly, equal to the annual electrical energy consumption of greater than 90,000 European houses.
“With these agreements, LyondellBasell has now achieved 70% of our goal to acquire no less than half of our electrical energy from renewable sources by 2030,” mentioned Willemien Terpstra, LyondellBasell vice chairman, Decarbonization. “In whole, our PPA portfolio will generate over 2.9 million megawatt hours of renewable electrical energy and cut back our firm’s scope 2 greenhouse fuel emissions by multiple million tons.”
“This PPA will assist to optimize the financing of Grenergy’s largest undertaking thus far in Spain,” mentioned David Ruiz de Andrés, CEO of Grenergy. “Its improvement additionally strengthens the burden of our European portfolio, which we anticipate to double from the present 25% to 45% by 2025. A confirmed construction and talent to shut PPAs is essential to maintaining the tempo of connections and attaining our strategic targets.”
The 259 megawatts (MW) La Cereal photo voltaic farm undertaking is a part of the Clara Campoamor photovoltaic photo voltaic vitality undertaking, which Grenergy is growing between the Madrid and Castilla La Mancha area. The full put in electrical energy capability shall be roughly 575 MW, and it’ll change into one of many largest photovoltaic parks in Europe.
These agreements display LyondellBasell continued progress in direction of the corporate’s purpose to scale back its scope 1 and a couple of greenhouse fuel emissions by 42% by 2030 and obtain internet zero by 2050.