TotalEnergies Signs with LyondellBasell to Supply 358 MW From Texas Farms






TotalEnergies has signed a second contract with LyondellBasell to supply a combined 358 MW of green electricity sourced from its utility-scale Cottonwood Bayou and Brazoria Solar farms in Texas.

Through the newly signed 15-year corporate power purchase agreement (CPPA), LyondellBasell will offtake 163 MW from TotalEnergies’ Brazoria Solar farm, which has a capacity of 325 MW and a commercial start-up planned for end of 2025.

Through the previous renewable 12-year CPPA signed last year, LyondellBasell will offtake 195 MW from TotalEnergies’ Cottonwood Bayou Solar plant, which has a capacity of 455 MW and a commercial start-up planned for the end of next year.

“TotalEnergies is proud to support LyondellBasell on its climate goals,” says TotalEnergies’ Vincent Stoquart. “The signing of these new upside sharing CPPAs in the United States is consistent with our strategy to take merchant exposure and will contribute to the objective of profitable growth for our integrated power business.”

The two CPPAs are indexed on merchant prices through an upside-sharing mechanism, under which the companies share any potential upside arising from increased market price over the contract term. They follow other CPPAs TotalEnergies signed with Amazon and Saint-Gobain in the U.S.

“We are taking decisive steps to reduce our scope 1 and 2 greenhouse gas emissions and power purchase agreements are a critical lever towards meeting our targets”, says LyondellBasell’s Chris Cain. “These agreements with TotalEnergies help us accelerate the development of clean energy and shift to use low carbon energy at our sites.”










Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top