Integrated petrochemical products manufacturer INEOS Olefins & Polymers USA announced that it has entered into a renewable power purchase agreement with NextEra Energy Resources, LLC, the global generator of renewable energy and battery storage leader. This development will enable INEOS O&P USA to construct a 310 MW solar project in north central Texas. The INEOS Hickerson Solar Farm will be constructed, owned and operated by NextEra Energy.
The entire output derived from the solar farm will be dedicated to INEOS O&P USA, and is expected to cover the net purchased electricity load of all 14 of INEOS O&P USA's manufacturing, fractionation and storage facilities in the US.
Speaking about the development, CEO INEOS O&P USA Mike Nagle said, "INEOS O&P USA seeks to be a bellwether of what the petrochemical community can do to adopt renewable energy among its long-term energy demands, and this is one of many important steps being taken globally to reduce the carbon footprint of all the INEOS businesses."
Sharing similar sentiments, Senior vice president of development for NextEra Energy Resources Matt Handel said, "We're pleased to work with INEOS O&P USA and support the company's renewable energy goals. We commend INEOS for taking a leading role in decarbonizing the petrochemical industry."
Located in Bosque County the farm is expected to produce 730,000 MWh of clean energy annually, which is equal to the electricity used in 68,000 homes annually, and will reduce greenhouse gas emissions by over 320,000 tons per year. The construction of the farm will begin in Q1 2024, and will begin operational by December 2025.