- Grenergy has secured 5 PPAs for 15-years with for its 259 MW La Cereal Solar Farm in Spain
- LyondellBasell will source 330 GWh solar power annually from the project once it comes online in 2025
- The Dutch company says this helps the company achieve 70% of its 2030 target to procure at least half of its electricity from renewables
Spanish renewable energy producer Grenergy has entered into 5 power purchase agreements (PPA) for 15-year period each with the Netherlands headquartered multinational chemicals and refining companies LyondellBasell for power from a 259 MW solar farm in Spain.
The chemicals company has signed up for about 330 GWh solar power annually from the project that’s scheduled to enter commercial operations at the end of 2025.
LyondellBasell targets to procure at least half of its electricity from renewables by 2030 and achieve net zero by 2050. Agreements with Grenergy for the Spanish project helps it achieve 70% of the 2030 target, the company stated.
“In total, our PPA portfolio will generate over 2.9 million megawatt hours of renewable electricity and reduce our company’s scope 2 greenhouse gas emissions by more than one million tons,” said LyondellBasell Vice President, Willemien Terpstra. In 2022, it entered PPA for 165 MW solar capacity in Texas with Buckeye Partners (see North America PV News Snippets).
La Cereal Solar Farm with 259 MW capacity is part of the Clara Campoamor Solar Project Grenergy says it is developing with a targeted installed capacity of around 575 MW. Once online between Madrid and Castilla La Mancha region, it will become one of the largest PV parks in all of Europe on completion, it added.
For Grenergy, these agreements bring in finance to build the project and help speed up its European development portfolio to increase from 25% now to 45% by 2025.