LyondellBasell Boosts Commitment to Renewable Energy with Latest PPAs

LyondellBasell, a prominent global leader in the chemical industry, has taken significant strides towards bolstering its renewable energy portfolio in the United States through the announcement of two impactful Power Purchase Agreements (PPAs). These strategic agreements are pivotal elements in the company's overarching environmental goals, primarily centered around a substantial reduction in greenhouse gas emissions.

In a noteworthy move, LyondellBasell has entered into a 15-year PPA with TotalEnergies, securing 125 megawatts (MW) of renewable power generated from the Brazoria Solar project in Brazoria County, Texas. Anticipated to commence operations at the end of 2025, this solar initiative is projected to yield approximately 300,000 megawatt-hours (MWh) of electricity annually. This substantial output is more than sufficient to meet the energy needs of over 28,000 American households on an annual basis.

In addition to the collaboration with TotalEnergies, LyondellBasell has inked a long-term agreement with Industrial Sun, securing 50 MW of renewable electricity from the Industrial Bravo solar project located in Matagorda County, Texas. Expected to become operational in the first half of 2026, this project is strategically positioned to supply clean energy to LyondellBasell's Matagorda Complex. This facility is dedicated to the production of high-density polyethylene (HDPE) plastic resins, contributing to the circular economy.

These Power Purchase Agreements mark a significant milestone for LyondellBasell as it progresses toward achieving its ambitious target of sourcing a minimum of 50% of its electricity from renewable sources by 2030. This goal is benchmarked against the 2020 procured levels. Aiming for a net-zero scope 1 and 2 emissions status by 2050, LyondellBasell recognizes the critical role that renewable electricity plays in this trajectory, especially considering that approximately 15% of the company's scope 1 and 2 greenhouse gas emissions in 2020 were attributed to electricity consumption.

Renowned for its commitment to sustainability and the creation of innovative, low-carbon solutions, LyondellBasell's focus extends beyond traditional business goals. The new Power Purchase Agreements are integral components of the company's broader sustainability initiatives, aligning seamlessly with its core values and commitments to customers, investors, and society at large.

These initiatives showcase LyondellBasell's dedication to driving positive change within the industry, emphasizing the importance of renewable energy in achieving environmental objectives. By strategically investing in solar energy projects, the company not only secures a clean and sustainable energy supply but also contributes significantly to the broader transition towards a circular and low-carbon economy. As a chemical industry giant, LyondellBasell continues to set benchmarks in sustainability through its innovative technologies and steadfast commitment to creating a positive impact on the planet.