ENERGY,PRODUCTS

LyondellBasell Achieves Renewable Energy Milestone

LyondellBasell | August 01, 2022 | Read time : 02:09 min

LyondellBasell Achieves Renewable
LyondellBasell announced it has made another step forward in its journey to net zero greenhouse gas (GHG) emissions. The company signed two additional long-term renewable electricity power purchase agreements (PPA) with Buckeye Partners for a total of 165 megawatts (MW) to be sourced from Buckeye's solar farms currently under construction in north Texas. This announcement is another example of the progress LyondellBasell is making towards achieving its 2030 goal of procuring at least half, approximately five million megawatt hours (MWh) per year, of its current electricity consumption from renewable sources.This agreement is the fourth renewable energy PPA for LyondellBasell and comes just one month after the company announced PPAs with ENGIE North America for 100 MW and Buckeye for 116 MW. The four agreements represent a total of 381 MW of renewable energy, estimated to generate approximately 1,037,000 megawatt-hours (MWh) of clean power annually. This is equivalent to the yearly electricity consumption of over 96,000 American homes.

"Infused in the work we do and products we make is our commitment to continually improve the quality of life and the environment, Renewable energy is an important step to achieving our GHG emission reduction goals on our journey to net-zero by 2050. Through their use in the production of wind turbines, solar panels and electric vehicles, our products are critical to the energy transition. Expanding our investment in wind and solar energy sources helps reduce the emissions associated with producing the vital products which make renewable energy possible."

-Peter Vanacker, CEO of LyondellBasell.

Buckeye Crown and Sol Solar Projects
Buckeye's Crown and Sol solar projects are located in Falls County, Texas on adjacent sites and are expected to commence commercial operations in the third quarter of 2023. Each PPA term with LyondellBasell is for 15 years. The projects are estimated to generate over 400,000 MWh of clean power annually for LyondellBasell, equivalent to 152,000 metric tons of carbon dioxide or the yearly electricity consumption of nearly 37,000 average American homes.

Decarbonizing electricity supply through the purchase of renewable electricity is important to meeting LyondellBasell's 2030 targets. The renewable energy source target is estimated to reduce approximately 1.5 million metric tons of greenhouse emissions from its scope 2 emissions annually.

About LyondellBasell
As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce.  The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

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Exeger and Atmosic Technologies Partner to Create Energy Harvesting Solutions for the IoT Sector

Exeger and Atmosic | September 12, 2022

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ENERGY,PRODUCTS

Cleco Power and DESRI Announce 240 MWac Solar Power Agreement

Cleco Power and DESRI | August 19, 2022

Cleco Power (Cleco) and D.E. Shaw Renewable Investments (DESRI), a leading renewable energy producer in the U.S., announce a long-term renewable energy off-take agreement. The Dolet Hills Solar Project includes a 240 MWac facility to be constructed at the recently retired Dolet Hills lignite-fired power plant in DeSoto Parish, Louisiana. The Dolet Hills Solar Project supports Cleco's growing renewable energy fleet and follows the company's recent announcement of Project Diamond Vault, a major economic development and decarbonization initiative to build a state-of-the-art carbon capture facility at its central Louisiana Brame Energy Center. "This solar project is another step forward in Cleco's journey to becoming Louisiana's leading clean energy company,This project continues our efforts to reduce our carbon footprint while affordably and reliably serving our customers." -Bill Fontenot, President and CEO of Cleco Corporate Holdings. Pending project approvals, Dolet Hills will boast one of the largest solar facilities in Louisiana and will represent more than $250 million invested towards powering approximately 45,000 homes. While Dolet Hills Solar is the first power purchase agreement between the companies, DESRI's portfolio in Louisiana will now total nearly 700 MWac in construction and contracted clean power projects. DESRI is proud to deliver low-cost, clean, reliable power to Cleco and its customers from this landmark solar energy facility," said Hy Martin, Chief Development Officer of DESRI. Alongside our partners at Cleco, the project will provide local economic benefits to DeSoto Parish and the surrounding communities for years to come. In addition, the project will replace lignite-fired electricity with renewable power sited on reclaimed mining lands. The Dolet Hills Solar Project is expected to deliver significant community benefits, including the creation of local construction jobs and tax revenue for the Parish. When asked about the project, DeSoto Parish President, Ernel Jones, stated "Cleco has been an integral part of the DeSoto Parish community for over 70 years and we look forward to our continued partnership. At the same time, we welcome DESRI and believe the Dolet Hills Solar Project will lead the way for future economic growth in our area. About Cleco Power, LLC Cleco Power is a regulated electric public utility that owns nine generating units with a rated capacity of 3,035 megawatts. Assets also include 1,335 miles of transmission lines and 12,152 miles of distribution lines. Cleco Power uses multiple generating sources and multiple fuels to serve approximately 291,000 customers in 24 of Louisiana's parishes through its retail business and supplies wholesale power in Louisiana and Mississippi. Parishes served include Acadia, Allen, Avoyelles, Beauregard, Calcasieu, Catahoula, DeSoto, Evangeline, Grant, Iberia, Jefferson Davis, LaSalle, Natchitoches, Rapides, Red River, Sabine, St. Landry, St. Martin, St. Mary, St. Tammany, Tangipahoa, Vermilion, Vernon and Washington. About D. E. Shaw Renewable Investments D. E. Shaw Renewable Investments (DESRI) and its affiliates develop, acquire, own, and operate long-term contracted renewable energy assets in the U.S. DESRI's portfolio of contracted, operating and in-construction renewable energy projects currently includes more than 65 solar and wind projects representing more than 6 GWac of aggregate capacity. DESRI is a member of the D. E. Shaw group, a global investment and technology development firm with more than $60 billion in investment and committed capital as of June 1, 2022, and offices in North America, Europe, and Asia.

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ENERGY

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Ricardo | July 12, 2022

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