KUALA LUMPUR, Sept 25 (Bernama) -- LyondellBasell (LYB), a leader in the global chemical industry, has signed a power purchase agreement (PPA) with Eneco N.V., bringing its total secured renewable electricity capacity to 100 per cent of its renewable electricity procurement target.
“Taking climate action is a key part of our strategy to create value for our stakeholders, the environment and society. I am therefore delighted that this latest agreement will help us reach our 2030 renewable electricity goal once all projects become operational.
“Power Purchase Agreements are a critical lever in our efforts to reduce our absolute scope 1 and 2 greenhouse gas emissions,” said LyondellBasell Chief Executive Officer, Peter Vanacker in a statement.
Approximately 15 per cent of LYB’s 2020 baseline scope 1 and 2 greenhouse gas emissions come from its electricity consumption and its target to procure a minimum of 50 per cent of its electricity from renewable sources by 2030 is based on 2020 procured levels.
In accordance with the terms of the 15-year PPA, LYB will secure 25 megawatts (MW) of renewable electricity generation capacity from the Hollandse Kust West VI (HKW-VI) ecology plot offshore wind farm in the North Sea, the Netherlands.
Eneco will deliver approximately 103 gigawatt-hours (GWh) of offshore wind power to LYB annually, starting in 2027. This is comparable to the annual electricity consumption of approximately 28,500 European homes.
As one of the world’s largest producers of polymers and a leader in polyolefin technologies, LYB develops, manufactures and markets high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare.
-- BERNAMA
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