LyondellBasell (LYB), a global chemical industry creating solutions provider, has signed a power purchase agreement (PPA) with Eneco N.V. for power from the Ecowende offshore wind farm in the North Sea, the Netherlands.
Ecowende will be the most sustainable offshore wind farm to date and is going to be built in harmony with nature. Construction will start next year and the wind farm is scheduled to be fully operational by late 2026.
Under the PPA signed, LYB will secure 25 MW of renewable electricity generation capacity, which is some 3 per cent of Ecowende’s total capacity of 760 MW, for the next 15 years from 2027 onwards.
Eneco, the energy company building the wind farm in the coming years together with its partners Shell and Chubu Electric Power 53 kilometres off the coast of IJmuiden, 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.
This agreement brings LYB’s total secured renewable electricity capacity to 100% 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,” said Peter Vanacker, LyondellBasell CEO. “Power Purchase Agreements are a critical lever in our efforts to reduce our absolute scope 1 and 2 greenhouse gas emissions.”
Approximately 15% of LYB’s 2020 baseline scope 1 and 2 greenhouse gas emissions come from its electricity consumption. The company target to procure a minimum of 50% of its electricity from renewable sources by 2030 is based on 2020 procured levels. Source: LYB / Eneco
