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HOUSTON, June 29, 2022 / PRNewswire / – LyondellBasell announced its first two Power Purchase Agreements (PPAs) in United States signed, supporting the company’s climate goal of obtaining at least 50% of electricity from renewable sources by 2030. The combined contracts include 216 megawatts (MW) of renewable energy, which will generate approximately 628,000 megawatt hours (MWh) of clean electricity per year. About 15 percent of LyondellBasell’s total Scope 1 and Scope 2 greenhouse gas emissions come from electricity consumption. These agreements will enable the company to reduce its carbon dioxide emissions by approximately 225,000 tonnes per year.
“It’s important for us to create a better future for the next generation. This is one of the reasons why we are focusing on achieving our climate goal of net zero emissions from our global operations, “he said. Peter Vanackergeneral manager by LyondellBasell. “Renewable energy is an important element in achieving this goal and energy purchase agreements are our preferred approach to decarbonising our electricity supply. These strategic projects move us forward in reducing greenhouse gas emissions, but also ensure scalability and support investment in new renewable energy capacity. ”
ENGIE Limestone wind project
LyondellBasell has signed a contract with ENGIE North America (ENGIE) has signed a PPA for 100 MW of renewable electricity generated in the new ENGIE Limestone wind farm in Navarro and Limestone, Texas. The project is to be launched by the end of 2022.
As part of the According to the 12-year contract, it is estimated that 377,000 MWh of clean electricity will be produced annually, which is equivalent to approximately 135,000 tons of carbon dioxide or the annual electricity consumption of more than 35,000 average American homes.
“This agreement shows that we are working together to find a path that will help face the common global challenge of climate change,” said David Carrolldirector of renewable energy by ENGIE. “We are especially honored to work with LyondellBasell on their first PPA, which will provide both parties with sustainable long-term economic and environmental benefits.”
Buckeye Solar Project files
LyondellBasell has also signed a PPA with Buckeye Partners for 116 MW of renewable energy generated from the Files solar project in Hill County outside Dallas, Texas, stalks. The photovoltaic park is expected to be commissioned in the second quarter of 2023.
The 10-year contract will generate an estimated 251,000 MWh of clean electricity per year, equivalent to approximately 90,000 tonnes of carbon dioxide, or the annual electricity consumption of more than 23,300 US homes.
“Buckeye is delighted to work with LyondellBasell on this new energy purchasing agreement and supports their sustainability goals,” said Buckeye CEO Todd Russo. “This partnership exemplifies our focus on meeting our customers’ increasingly diverse energy needs, including solar energy.”
LyondellBasell’s climate goals support the ambitions of the Paris Agreement and the transition to a low-carbon economy. If LyondellBasell receives at least half of its electricity from renewable sources by 2030, it is estimated that Scope 2’s greenhouse gas emissions will be reduced by approximately 1.5 million tonnes. LyondellBasell’s renewable energy target supports the company’s commitment to achieving zero greenhouse gas emissions from Scopes 1 and 2 by 2050.
As a leader in the global chemical industry, LyondellBasell strives to be the safest, best managed and most respected company in our industry every day. The company’s products, materials and technologies contribute to sustainable food safety, clean water, healthcare and fuel efficiency solutions in over 100 international markets. LyondellBasell values diversity, equality and inclusion as well promotes good with an emphasis on our planet, the communities in which we operate, and our future workforce. The company prides itself on world-class technology and customer focus. LyondellBasell has stepped up its ambitions and efforts in the circular economy and climate action to meet the global challenges of plastic waste and decarbonisation. In year In 2022, LyondellBasell was named one of the “Most Admired Companies in the World” by FORTUNE magazine for the fifth time in a row. More information can be found on the website www.lyondellbasell.com or follow @Lyondellbasell on LinkedIn.
Statements in this release that relate to matters that are not historical facts are forward-looking statements. These forward-looking statements are based on assumptions made by LyondellBasell management which are believed to be reasonable when made, and involve significant risks and uncertainties. In this edition, the terms “estimate”, “believe”, “continue”, “might”, “intend”, “may”, “plan”, “possibly”, “anticipate”, “should”, “will”, “expect. “And similar phrases are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results may vary significantly depending on factors such as: utility availability, costs, and price volatility; our ability to meet our sustainability goals, including our ability to reduce emissions and achieve net zero emissions within the time frame set by our goals; our ability to source energy from renewable sources; and the successful construction and operation of the projects described in this Communication. For additional factors that could cause results to differ materially from those described in the forward-looking statements, please see the “Risk Factors” section of our Form 10-K for the year ended December 31, 2021, which is for day www.LyondellBasell.com on the Investor Relations website and on the website of the Securities and Exchange Commission at www.sec.gov you can watch. There is no assurance that the activities, events or results discussed in the forward-looking statements will occur, and, if any, will affect our operating results or financial condition. Forward-looking statements speak only as of their date of termination and are based on the estimates and opinions of LyondellBasell management at the time of the statements. Except as required by law, LyondellBasell undertakes no obligation to update any forward-looking statements if circumstances or management’s estimates or opinions change.
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