LYB Obtains Renewable Electricity Capacity To Reach 2030 Goal

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.

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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.

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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