LyondellBasell Industries (LYB) said Wednesday that it has signed two power purchase agreements in Europe that will provide the company with long-term price certainty.
Financial terms of the agreements were not disclosed.
LyondellBasell said it has signed a 15-year agreement with Vattenfall to secure 450 gigawatt-hours a year of offshore wind energy to support its German operations, including the MoReTec-1 plastic recycling plant in Wesseling.
The company said it has also signed a 10-year agreement to secure 79 gigawatt-hours a year of onshore wind power from Wpd's Licata project in Sicily for powering facilities including its production site and research center in Ferrara, Italy.
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