LyondellBasell Signs Long-term Solar Purchase Deals

22.03.2023 - Chemical producer LyondellBasell has signed five 15-year solar power purchase agreements (PPAs) with Spanish renewable energy producer Grenergy. The purchases cover the supply of energy from the La Cereal solar farm project in Spain, which is expected to be operational at the end of 2025.

The Netherlands-based, US-managed olefins and polyolefins giant said the agreements representing more than 329,000 MWh of solar power annually are in line with its goal to reduce its Scope 1 and 2 greenhouse gas emissions by 42% up to 2030 and achieve net zero by 2050.

The PPAs will help the Spanish provider to finance its largest project to date in its home market, said Grenergy CEO David Ruiz de Andrés. The development of the 259 MWh solar farm, he said, also strengthens the weight of the company’s European portfolio, which is expected to double from the current 25% to 45% by 2025.

Grenergy’s farm is part of the Clara Campoamor photovoltaic solar energy project it is developing between Madrid and the Castilla La Mancha region. Installed solar electricity capacity is planned to total 575 MWh, making it one of the largest photovoltaic parks in Europe.

With the new agreements, LyondellBasell said it has achieved 70% of its target to procure at least half of its electricity from renewable sources by 2030. In total, the group’s PPA portfolio is planned to generate more than 2.9 million MWh of renewable electricity and reduce Scope 2 greenhouse gas emissions by more than 1 millon t.

Author: Dede Williams, Freelance Journalist