LyondellBasell, Grenergy Sign Solar Power Purchase Agreements

There have been five long-term solar power purchase agreements made by LyondellBasell and Grenergy (PPAs). The La Cereal solar farm project, which is anticipated to go operational at the end of 2025, will provide solar energy under the 15-year contracts that the Spanish renewable energy producer has signed. The contracts amount to around 329,000 megawatt-hours (MWh) of solar energy annually, which is more than 90,000 European homes’ yearly electricity consumption.

Willemien Terpstra, vice president of decarbonization at LyondellBasell, stated that with these agreements, the company has already reached 70% of its goal of obtaining at least 50% of its electricity from renewable sources by 2030. Our company’s scope 2 greenhouse gas emissions will be reduced by more than one million tonnes thanks to the over 2.9 million megawatt hours of renewable electricity that our PPA portfolio will produce in total.

According to Grenergy CEO David Ruiz de Andrés, this PPA will help to optimise the financing of the company’s largest project to date in Spain. Its growth also increases the importance of our European portfolio, which we anticipate will increase from 25% to 45% by 2025. The key to maintaining the speed of connections is having a tested structure and the capacity to close PPAs.

LyondellBasell

The Clara Campoamor photovoltaic solar energy project, which Grenergy is developing between Madrid and Castilla La Mancha, includes the 259 megawatts (MW) La Cereal solar farm project. It will grow to be one of the biggest solar parks in Europe with a total installed electrical capacity of about 575 MW.

These contracts show LyondellBasell’s ongoing progress towards its objective to cut its scope 1 and scope 2 greenhouse gas emissions by 42% by 2030 and reach net zero by 2050.