Eneco and LyondellBasell have signed a power purchase agreement (PPA) for 25MW of capacity from the Hollandse Kust West (HKW-6) offshore wind farm, located off the coast of the Netherlands.
Under the agreement, Eneco will supply approximately 103 gigawatt-hours of offshore wind power annually to LyondellBasell, beginning in 2027.
This agreement allows LyondellBasell to reach 100% of its renewable electricity procurement target. “Taking climate action is a key part of our strategy to create value for our stakeholders, the environment and society. I am therefore delighted that this latest agreement will help us reach our 2030 renewable electricity goal once all projects become operational,” said LyondellBasell CEO Peter Vanacker.
Power Purchase Agreements (PPAs) play a significant role in LyondellBasell's efforts to reduce its greenhouse gas emissions.
The company has set a goal of sourcing at least 50% of its electricity from renewable sources by 2030, based on 2020 levels, with electricity consumption accounting for about 15% of its scope 1 and 2 emissions from that year.
