LyondellBasell has signed two additional long-term renewable electricity power purchase agreements (PPA) with Buckeye Partners for a total of 165 MW to be sourced from Buckeye’s solar farms currently under construction in north Texas.
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 MWh of clean power annually.
“Infused in the work we do and products we make is our commitment to continually improve the quality of life and the environment,” says Peter Vanacker, CEO of 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.”
Buckeye’s Crown and Sol solar projects are located in Falls County, Texas on adjacent sites and are expected to commence commercial operations in the third quarter of 2023. Each PPA term with LyondellBasell is for 15 years. The projects are estimated to generate over 400,000 MWh of clean power annually for LyondellBasell.