OIL - LyondellBasell edges closer to meeting its 2030 renewable energy target | Benzinga
HOUSTON, Dec. 19, 2023 /PRNewswire/ -- LyondellBasell (NYSE:LYB) signed two new Power Purchase Agreements (PPA) in the United States, which will bring the company's total procured renewable electricity to 1,366 megawatts (MW), representing 89% of its goal to procure a minimum of 50% of its electricity from renewable sources.
"We are taking decisive steps to reduce our scope 1 and 2 greenhouse gas emissions and power purchase agreements are a critical lever towards meeting our targets," said Chris Cain, LyondellBasell Senior Vice President for Net Zero Transition Strategy. "These two new agreements help us accelerate the development of clean energy and shift to use of low carbon energy at our sites."
The company signed a long-term PPA for 125 MW of renewable electricity sourced from TotalEnergies' Brazoria Solar project in Brazoria County, Texas. The 15-year agreement is expected to generate approximately 300,000 megawatt-hours (MWh) of solar power annually, equivalent to the annual electricity consumption of more than 28,000 American homes. The ...