LyondellBasell reaches renewable energy milestone
August 8, 2022 | By Monica Ferguson
LyondellBasell signed two long-term renewable electricity power purchase agreements with Buckeye Partners for a total of 165 megawatts to be sourced from Buckeye’s solar farms currently under construction in north Texas.
LyondellBasell goal is to procure at least half, approximately five million megawatt hours per year, of its current electricity consumption from renewable sources by 2030.
This agreement is the fourth renewable energy PPA for LyondellBasell and comes just one month after the company announced PPAs with ENGIE North America for 100 MW and Buckeye for 116 MW. The four agreements represent a total of 381 MW of renewable energy, estimated to generate approximately 1,037,000 megawatt-hours (MWh) of clean power annually. This is equivalent to the yearly electricity consumption of over 96,000 American homes.
“Infused in the work we do and products we make is our commitment to continually improve the quality of life and the environment,” said Peter Vanacker, CEO, LyondellBasell. “Renewable energy is an important step to achieving our GHG emission reduction goals on our journey to net-zero by 2050. Through their use in the production of wind turbines, solar panels and electric vehicles, our products are critical to the energy transition. Expanding our investment in wind and solar energy sources helps reduce the emissions associated with producing the vital products which make renewable energy possible.”