LyondellBasell and Encavis Asset Management Sign PPA for Major Solar Park in Germany

LyondellBasell and Encavis Asset Management AG have entered into a power purchase agreement (PPA) securing 208 megawatts (MW) of renewable electricity generation capacity from a solar park in Bartow, Germany. This solar park is poised to become one of the largest of its kind in the country.

Under the terms of the 12-year PPA, Encavis AM will supply approximately 210 gigawatt-hours (GWh) of solar power annually to LyondellBasell, equivalent to the electricity consumption of about 56,500 European homes. The agreement is set to commence in 2025 and will contribute to LyondellBasell’s goal of achieving more than 90% of its total renewable electricity target.

Chris Cain, LyondellBasell’s Senior Vice President for Net Zero Transition Strategy, emphasized the significance of PPAs in reducing greenhouse gas emissions, stating that this agreement will expedite the development and deployment of clean energy in Germany.

LyondellBasell aims to procure a minimum of 50% of its electricity from renewable sources by 2030, aligning with its pathway to net zero emissions by 2050.

Encavis AM selected the location of the solar park, situated approximately 150 kilometers (93 miles) north of Berlin, to maximize solar radiation and efficiency. Construction of the first phase is set to commence in March 2024, with completion scheduled for the summer of 2025. The park is expected to have a total electricity capacity of 260 MW.

Karsten Mieth, Spokesman of the Board of Encavis Asset Management AG, highlighted the project’s contribution to the energy transition, underscoring the company’s commitment to operating the solar park sustainably and profitably.