MOSCOW (MRC) -- LyondellBasell and Grenergy signed five long-term solar power purchase agreements (PPAs). Under the 15-year contracts, the Spanish renewable energy producer will supply solar energy from the La Cereal solar farm project, which is expected to be operational at the end of 2025, said the company.
The agreements represent about 329,000 megawatt-hours (MWh) of solar power annually, equivalent to the annual electricity consumption of more than 90,000 European homes.
"With these agreements, LyondellBasell has now achieved 70% of our target to procure at least half of our electricity from renewable sources by 2030,” said Willemien Terpstra, LyondellBasell vice president, Decarbonization. "In total, our PPA portfolio will generate over 2.9 million megawatt hours of renewable electricity and reduce our company’s scope 2 greenhouse gas emissions by more than one million tons."
"This PPA will help to optimize the financing of Grenergy's largest project to date in Spain," said David Ruiz de Andres, CEO of Grenergy. "Its development also strengthens the weight of our European portfolio, which we expect to double from the current 25% to 45% by 2025. A proven structure and ability to close PPAs is key to keeping up the pace of connections and achieving our strategic targets."
The 259 megawatts (MW) La Cereal solar farm project is part of the Clara Campoamor photovoltaic solar energy project, which Grenergy is developing between the Madrid and Castilla La Mancha region. The total installed electricity capacity will be approximately 575 MW, and it will become one of the largest photovoltaic parks in Europe.
These agreements demonstrate LyondellBasell continued progress towards the company’s goal to reduce its scope 1 and 2 greenhouse gas emissions by 42% by 2030 and achieve net zero by 2050.
We remind, LyondellBasell announced that PetroChina Jilin Petrochemical Company will again license LyondellBasell’s polyethylene technology at their facility located in Jilin City, Jilin Province, P.R. of China. The newly licensed technology will comprise of LyondellBasell’s leading high-pressure Lupotech process technology which will be used for both a 100 kiloton per year (KTA) Autoclave and a 300 KTA Tubular line. Both production trains will produce mainly low-density polyethylene (LDPE) with ethylene vinyl acetate copolymers (EVA). Furthermore, an additional 400 KTA Hostalen “Advanced Cascade Process” (ACP) line for the production of high density polyethylene (HDPE) will be built at the same time.