Plastics, chemical compounds and refining firm LyondellBasell (NYSE:LYB) has doubled the variety of renewable energy buy agreements (PPAs) it has in place to eight, with the 4 new ones representing a mixed capability of about 560 MW.
The corporate introduced in a press release on Thursday that it signed its first two such contracts in Europe – one within the Nordics tied to 230 MW of initiatives anticipated to begin energy technology within the first quarter of 2026, and one in Spain related to the 5-MW Tarragona photo voltaic venture. The second represents the primary bodily PPA venture at a LyondellBasell manufacturing web site within the nation, it famous.
In the meantime, within the US, LyondellBasell has entered into two further PPAs. The initiatives involved are positioned in Texas and have a mixed renewable power technology capability of about 320 MW.
“These renewable electrical energy contracts cowl almost one-third of our 2020 baseline electrical energy consumption. This demonstrates tangible progress in the direction of our total goal to scale back our scope 1 and a pair of emissions by 42% by 2030, relative to a 2020 baseline,” acknowledged Willemien Terpstra, LyondellBasell Vice President, Decarbonization.
The corporate’s purpose is to obtain a minimum of 50% of its international electrical energy from renewable sources by 2030. The PPAs it already has in place cowl greater than half of that goal, in line with the announcement.
