LyondellBasell Industries signed two 15-year renewable electricity power purchase agreements (PPA) with Buckeye Partners to receive 165 MW of power from Buckeye's solar farms in northern Texas, according to a press release on July 28.
Buckeye's Crown and Sol solar farms are currently under construction in Falls County, Texas, expected to commence commercial operations in third quarter 2023. The combined projects are anticipated to produce 400,000 MWh of clean power for LyondellBasell annually.
The partnership is part of LyondellBasell's goal to obtain at least half of its current electricity consumption from renewable sources by 2030, which would be approximately 5 million MWh a year., as well as its goal to achieve net-zero emissions by 2050.
This agreement is the company's fourth renewable energy PPA following an agreement with ENGIE North America and another agreement with Buckeye last month. LyondellBasell has acquired a total of 381 MW of renewable energy so far from the combined PPAs and is expected to be able to generate approximately 1.037 million MWh of clean power per year.
"Renewable energy is an important step to achieving our GHG [greenhouse-gas] emission reduction goals on our journey to net-zero by 2050," LyondellBasell CEO Peter Vanacker commented in the release. "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."
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