TotalEnergies has signed a second contract with LyondellBasell to produce a mixed 358 MW of inexperienced electrical energy sourced from its utility-scale Cottonwood Bayou and Brazoria Photo voltaic farms in Texas.
Via the newly signed 15-year company energy buy settlement (CPPA), LyondellBasell will offtake 163 MW from TotalEnergies’ Brazoria Photo voltaic farm, which has a capability of 325 MW and a business start-up deliberate for finish of 2025.
Via the earlier renewable 12-year CPPA signed final yr, LyondellBasell will offtake 195 MW from TotalEnergies’ Cottonwood Bayou Photo voltaic plant, which has a capability of 455 MW and a business start-up deliberate for the top of subsequent yr.
“TotalEnergies is proud to help LyondellBasell on its local weather objectives,” says TotalEnergies’ Vincent Stoquart. “The signing of those new upside sharing CPPAs in america is according to our technique to take service provider publicity and can contribute to the target of worthwhile progress for our built-in energy enterprise.”
The 2 CPPAs are listed on service provider costs via an upside-sharing mechanism, underneath which the businesses share any potential upside arising from elevated market worth over the contract time period. They observe different CPPAs TotalEnergies signed with Amazon and Saint-Gobain within the U.S.
“We’re taking decisive steps to cut back our scope 1 and a pair of greenhouse gasoline emissions and energy buy agreements are a important lever in direction of assembly our targets”, says LyondellBasell’s Chris Cain. “These agreements with TotalEnergies assist us speed up the event of unpolluted power and shift to make use of low carbon power at our websites.”
