LyondellBasell Signs New PPAs to Secure 560 MW of Renewable Energy Capacity

The campaign, aimed at financing part of the agrivoltaic plant, envisages annual returns of 6.5% for the inhabitants of the municipalities of Terzo di Aquileia and Cervignano del Friuli, who wish to join. Renantis brings its sustainable approach to Friuli Venezia Giulia, by sharing the value generated by the plant to promote widespread, compatible, and agriculture-related sustainability, in synergy with local communities. The plant will combine the production of clean energy with beekeeping, The plant will combine the production of clean energy with agriculture activity, including the planting of a variety of native crops under the solar panels, the installation of beehives and a polyphytic meadow, composed of multiple species of grasses. The cultivation will contribute to climate change mitigation, biodiversity protection, soil protection from the effects of erosion and the creation of habitats for wildlife and bees. The plant will also include advanced technology agricultural tools to make beekeeping activities more efficient and sustainable. The inhabitants of Terzo di Aquileia and Cervignano del Friuli, who will join the campaign, will receive a gross annual return of 6.5 per cent; for the inhabitants of the Friuli Venezia Giulia region, the value set is 5.5 per cent. At a later stage, the financing opportunity will also be open to Renantis' Italian employees, key figures in the Group's green vocation. The lending crowdfunding campaign will be developed through a remunerated loan, guaranteed by Renantis and not directly linked to the actual production of the plant. Through the Ener2Crowd platform it will be possible for individuals to participate in the project with investment of between 200 and 10,000 euro. Receiving annual interest on the loan made for 36 months, participants have the possibility of early exit and full recovery of the capital paid in, at the end of the period. "For over fifteen years, our Group has been successfully conducting initiatives to share the value created by our renewable plants," comments Giangiacomo Altobelli, Renantis' community manager in Italy. "In 2021 we launched our first lending crowdfunding campaign in Sicily, in the province of Ragusa, with a high level of participation from the local community. This new initiative in Friuli Venezia Giulia is further evidence of our sustainable commitment, which is based on caring, both for the region and for the people who live around our facilities."

LyondellBasell, a leader in the global chemical industry, announced it has signed the first two European renewable electricity power purchase agreements (PPAs) and two additional PPAs in the United States. The combined additional contracts represent a total of approximately 560 megawatts (MW) of renewable energy capacity.


LyondellBasell has now signed eight PPA agreements and achieved over half of its 2030 target to procure a minimum of 50 percent of global electricity from renewable sources. These PPAs will generate over 2.6 million megawatt hours (MWh) of renewable electricity annually and reduce LyondellBasell’s scope 2 emissions by nearly 1 million metric tons of carbon emissions, equivalent to the emissions associated with the annual electricity consumption of more than 370,000 homes.


“Decarbonizing the electricity supply through purchasing renewable electricity is crucial to meet LyondellBasell’s 2030 and 2050 net zero greenhouse gas emissions targets,” said Willemien Terpstra, LyondellBasell Vice President, Decarbonization. “These renewable electricity contracts cover nearly one-third of our 2020 baseline electricity consumption. This demonstrates tangible progress towards our overall objective to reduce our scope 1 and 2 emissions by 42% by 2030, relative to a 2020 baseline.”

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Virtual PPA for Nordic Projects


LyondellBasell signed a PPA for multiple Nordic projects, with operations expected to begin in the first quarter of 2026. The projects represent approximately 230 MW of renewable energy capacity on LyondellBasell’s behalf.

Tarragona PPA Solar Project

The Tarragona Solar Project is the first physical PPA project located at a LyondellBasell production site in Spain. This project is expected to begin operations in the third quarter of 2023 with approximately 5 MW of renewable energy capacity. This electricity will help reduce 17 percent of Scope 2 emissions locally in the production of polypropylene compounds used in automotive applications.

North America Virtual PPA Projects

LyondellBasell signed two additional PPAs in the United States. These projects are located in Texas with approximately 320 MW of renewable energy capacity on LyondellBasell’s behalf.

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