LyondellBasell secures 25 MW of wind-generated electricity to meet 2030 targets

LyondellBasell signs a PPA with Eneco for 25 MW of renewable electricity, consolidating its plan to decarbonize by 2030.

Partagez:

LyondellBasell (LYB) reinforces its renewable energy procurement strategy by signing a Power Purchase Agreement (PPA) with Eneco N.V., to secure 25 MW of offshore wind power capacity.
This agreement marks a key step towards the Group’s goal of meeting 50% of its electricity needs from renewable sources by 2030.
This project is in line with the Group’s decarbonization plan, based on 2020 electricity consumption, to reduce its greenhouse gas (GHG) emissions.
Companies in the chemical sector, such as LyondellBasell, are increasingly adopting these long-term contracts to guarantee stability in their energy costs while meeting regulatory targets.
The agreement signed with Eneco concerns the purchase of electricity generated by the Hollandse Kust West VI (HKW-VI) wind farm in the North Sea.
This wind farm, currently under development, is scheduled to come on stream by 2027 and will supply LYB with around 103 gigawatt-hours (GWh) of electricity per year.

Growing role of Power Purchase Agreements in industry

The use of APPs has become a preferred strategy in industry for securing green electricity supplies.
By signing this 15-year agreement with Eneco, LyondellBasell is reinforcing its commitment to more sustainable energy production.
This electricity, produced from offshore wind turbines, will be used to power its European facilities, thereby contributing to a reduction in its Scope 1 and 2 emissions.
The 103 GWh of renewable electricity supplied by the wind farm is equivalent to the annual consumption of around 28,500 European households.
This enables LYB to offset a significant part of the carbon footprint associated with its European operations.
This type of contract is becoming the norm in the energy sector as industrial companies seek to reduce their dependence on fossil fuels.

Impacts of the Hollandse Kust West VI wind farm

The Hollandse Kust West VI offshore wind farm in the North Sea is one of the Netherlands’ most ambitious projects.
In addition to boosting the country’s renewable energy production capacity, this project contributes to the national decarbonization objective and the European energy transition strategy.
The development of such projects enables large companies, like LYB, to secure a stable source of electricity that respects greenhouse gas emission reduction targets.
With a total installed capacity of 700 MW, this offshore wind farm will be one of the largest in Europe.
Electricity delivery to LyondellBasell will begin in 2027, in line with the company’s decarbonization plans.
This new capacity will join other similar projects already in operation, consolidating LyondellBasell’s position in the renewable energy market.

Outlook for the industry

Against a backdrop of tighter regulation, with national and European targets for reducing CO2 emissions, companies in the industrial sector are under increasing pressure to adopt strategies based on renewable energies.
LyondellBasell is adapting to these developments by investing in sustainable energy infrastructures, through long-term contracts such as the one signed with Eneco.
These initiatives aim to secure long-term supply while stabilizing energy costs, a crucial issue in a market marked by high volatility in fossil fuel prices.
By opting for renewable sources such as offshore wind power, companies not only reduce their direct emissions, but also contribute to the European Union’s overall goal of carbon neutrality by 2050.
Projects such as HKW-VI underline the growing role of offshore wind power in the energy transition, offering companies a reliable, large-scale alternative.

ACCIONA Energía transfers the San Juan de Marcona wind farm to Luz del Sur S.A.A., a major player in Peru's energy sector, for up to USD 253 million, pending necessary regulatory approvals.
German operator Encavis AG strengthens its portfolio by acquiring two wind farms in Lower Saxony and Saxony, totalling 59 MW, in a transaction with Energiequelle GmbH, thereby expanding its renewable energy assets.
Ocergy officially launches an industrial project aiming to install by 2028 a new-generation floating wind turbine of over 15 MW, in partnership with EnBW, Kyuden Mirai, and TEPCO Renewable Power.
Inaugurated on 20 June, the five-turbine plant of wpd onshore France feeds 18 MW into the grid and unlocks new tax revenue for four Côtes-d’Armor municipalities.
Statkraft refocuses investments on flexible Nordic hydropower and reduces commitments in offshore wind and hydrogen to lower operating costs, amid an uncertain economic environment and pressured profitability.
Suzlon Group receives third consecutive order from AMPIN Energy Transition to supply 170.1 MW of wind turbines for a project in India's Andhra Pradesh state, strengthening their strategic industrial partnership.
The Muir Mhòr floating wind project secures Aberdeenshire's onshore consent, paving the way for the potential production of one gigawatt of electricity, enough to power up to 1.2 million British homes by the early 2030s.
Iberdrola España and Renfe conclude a virtual power purchase agreement for 370 GWh per year for ten years, strengthening the use of renewable energy in Spanish railway transport.
TotalEnergies has been awarded a concession in the North Sea enabling the development of a 1GW offshore wind project, reinforcing its strategic presence in Germany.
With an annual increase of 14%, global offshore wind capacity now reaches 85.2 gigawatts, driven mainly by China, the United Kingdom, and Germany, while another 27.3 gigawatts are currently under construction.
Seabed exploration begins in Jammerland Bay to validate the placement of sixteen turbines and the cable corridor, the first tangible step before construction of the project led by TotalEnergies and European Energy.
RWE and Østermark Entreprenørforretning celebrate advanced construction of the operational building for Denmark's largest offshore wind farm, promising up to 60 permanent local jobs by 2026.
RWE and Amazon Web Services enter a strategic collaboration to supply renewable energy for data centres and accelerate digital capabilities within the global energy sector.
SSE Renewables inaugurated its first wind farm in Southern Europe in Chaintrix-Bierges and Vélye, with eight Siemens Gamesa turbines and an investment exceeding €30mn ($32.3mn).
The Astenn Avel consortium, led by Elicio and Q ENERGY, brings in VALOREM to bid for the 500 MW floating wind project planned off the coast of Southern Brittany.
The Canada Infrastructure Bank supports the construction of the Mesgi'g Ugju's'n 2 wind farm, co-owned by Mi'gmaq communities and Innergex, through a combined equity and debt financing package.
The first turbine of the Éoliennes Flottantes du Golfe du Lion project was assembled at Port-La Nouvelle, marking a major industrial milestone for Ocean Winds and its partners.
RWE inaugurated an onshore wind farm in Plounérin and Plounévez-Moëdec, featuring four turbines with a capacity of 14.7 MW, in partnership with the local SEM Lannion-Trégor.
The Moulins wind farm, made up of five turbines, was inaugurated on June 6 across three municipalities in the Douaisis region. It will generate €70,000 in annual tax revenue for local authorities.
Chinese firm SANY Renewable Energy enters Serbia through a 168 MW wind deal aimed at powering the local grid from 2028.