financetom
Business
financetom
/
Business
/
LyondellBasell signs renewable power purchase agreements in Europe
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
LyondellBasell signs renewable power purchase agreements in Europe
Jan 29, 2025 5:55 AM

(Reuters) - Petrochemicals manufacturer LyondellBasell said on Wednesday it has signed power purchase agreements in Europe for wind energy to support its commitment to reducing greenhouse gas emissions.

Chemical companies are entering deals to purchase renewable electricity to help them reach their carbon dioxide emissions reduction targets.

Under the 15-year agreement with European energy firm Vattenfall, LyondellBasell will secure 450 gigawatt-hours (GWh) annually of offshore wind energy to support its circular and low-carbon solutions in Germany, the company said.

Additionally, the company signed a 10-year agreement with renewable energy company wpd, securing 79 GWh annually of onshore wind power from the Licata project in Sicily, Italy, set to begin in 2026.

The chemicals maker had previously signed long-term renewable power purchase agreements with energy companies Buckeye Partners and Engie North America in 2022.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved