MOSCOW (MRC) -- INEOS has agreed a long-term Power Purchase Agreement for renewable offshore wind power in Belgium with sustainable energy producer Eneco, as per the company's press release.
Under the terms of the ten-year deal, which begins in 2022, INEOS will purchase 65,5-Megawatt (250 GWh per annum) of off-shore wind power from Eneco, produced at the SeaMade offshore wind park in the Belgian North Sea.
This significant deal will take ca. 13.5% of SeaMade’s renewable electricity. It will reduce the carbon footprint of INEOS by a further 940,000 tonnes of CO2 over the length of the contract, which is the equivalent of taking 70,000 cars off the road each year.
The renewable electricity from this agreement will be used to support INEOS Olefins and Polymers, INOVYN and Styrolution businesses, allowing the latter to switch its German assets to green power from January 2022 onwards.
This is the third renewable power deal agreed by INEOS as part of our road map to reduce greenhouse gas emissions from across its operations, as the company continues to supply essential products that people increasingly need across medical, food, transport and construction.
As MRC reported earlier, INEOS Styrolution (Frankfurt, Germany), a global leader in styrenics, has announced that two of its European production sites, namely Antwerp, Belgium and Ludwigshafen, Germany have received the ISCC PLUS certification from ISCC (International Sustainability & Carbon Certification). The certification announced paves the way for the audited production of recycling- and bio-attributed styrenics materials using a mass balance approach.
The ISCC PLUS certificate for Antwerp addresses bio-attributed and recycled-attributed ABS (acrylonitrile butadiene styrene), SBC (styrene-butadiene copolymers) and polystyrene (PS). The respective certificate for Ludwigshafen addresses bio-attributed and recycled-attributed SMMA (styrene methyl methacrylate), SAN (styrene acrylonitrile copolymer) and ABS.
According to MRC's ScanPlast report, Russia's overall estimated consumption of PS and styrene plastics was 518,560 tonnes in January-November 2021, up by 14% year on year. November estimated consumption of PS and styrene plastics rose by 7% year on year, totalling 48,620 tonnes.
INEOS Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.