LyondellBasell and Encavis sign PPA

LyondellBasell and Encavis sign PPA

Encavis AM will deliver approximately 210 gigawatt-hours (GWh) of solar power to LyondellBasell annually

  • By ICN Bureau | April 04, 2024

LyondellBasell and Encavis Asset Management AG (Encavis AM) announced they signed a power purchase agreement (PPA) to secure 208 megawatts (MW) of renewable electricity generation capacity from the solar park in Bartow, Germany. This solar park will rank among the largest of its kind in Germany.

Under this 12-year PPA, Encavis AM will deliver approximately 210 gigawatt-hours (GWh) of solar power to LyondellBasell annually. This is comparable to the annual electricity consumption of approximately 56,500 European homes, starting in 2025. With this latest PPA, the company will reach more than 90% of its total renewable electricity goal.

“Power Purchase Agreements are a critical lever in our efforts to reduce our absolute scope 1 and 2 greenhouse gas emissions,” says Chris Cain, LyondellBasell Senior Vice President for Net Zero Transition Strategy. “This latest agreement will accelerate the development and deployment of clean energy across different sectors in Germany.”

Encavis AM selected the location of the solar park, situated approximately 150 kilometers (or 93 miles) north of Berlin, to maximize solar radiation and efficiency. Construction of the first phase is scheduled to begin in March 2024, with completion scheduled for the summer of 2025. The park will have a total expected electricity capacity of 260 MW.

"This vast large-scale solar project in Bartow reaffirms our expertise in sophisticated investments in the Renewable Energy sector and makes a substantial contribution to the energy transition. Leveraging our industry know-how, we are committed to operating the solar park in an environmentally sustainable and economically profitable manner," says Karsten Mieth, Spokesman of the Board of Encavis Asset Management AG.

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