Dutch energy company Eneco has signed a 10-year Power Purchase Agreement (PPA) with INEOS, a global manufacturer of petrochemicals, specialty chemicals and oil products. Starting in 2022, INEOS will purchase 65.5-Megawatt (250 GWh per annum) of offshore wind power from the SeaMade offshore wind farm in the Belgian North Sea. For Eneco the deal resembles the largest PPA closed in Belgium.
The 65.5 MW off-take represents around 13.5 % of SeaMade’s renewable electricity produced by 58 Siemens Gamesa wind turbines. SeaMade is a combination of two offshore wind projects, formerly known as Mermaid (235 MW) and Seastar (252 MW). The project is located 40-50 km off the coast of Ostend in Belgium and was officially inaugurated in October 2021. Eneco Wind Belgium has a 12.5% stake in the project. Other shareholders are ENGIE Electrabel (17.5%) and Otary RS NV, in which several parties are united (70%).
“Developing sustainable power supplies together with our customers is a central pillar in our One Planet strategy to become a net zero company by 2035”, said Kees-Jan Rameau, Chief Strategic Growth Officer and Board Member of Eneco. “INEOS also wants to contribute to a net zero economy and is therefore taking concrete actions to reduce their climate footprint. With our collaboration we can contribute to making INEOS operations run on renewable energy sources and at the same time accelerate the energy transition.”
The renewable electricity from this agreement will be used to support INEOS Olefins and Polymers, INOVYN and Styrolution businesses, allowing the latter to switch its German assets to green power from January 2022 onwards, the company said.
Third Belgian offshore wind PPA for INEOS
For INEOS it is the third renewable power deal as part of their road map to reduce greenhouse gas emissions from across its operations. INEOS previously signed PPAs with Engie and RWE for renewable energy produced by the Norther and Northwester2 offshore wind farms respectively. Combined, the agreements bring INEOS commitment to Belgian offshore renewable wind to 205 MW (~750 GWh per annum). Together this reduces the carbon footprint of its operations by nearly 3 million tons of CO2 over the life of the contracts. Source: INEOS Image source: Siemens Gamesa/Eneco