Lyondell in Renewable-Energy Purchase Deals as Net Zero Push Continues

Dow Jones

Jan 29, 2025

By Rob Curran

LyondellBasell signed two purchase-power agreements for renewable energy as the Dutch chemicals company continued a push to limit its environmental impact.

In a 15-year deal, Rotterdam, Holland, chemicals giant agreed to purchase 450 gigawatt-hours annually of offshore wind energy from power company Vattenfall to support sustainable operations in Germany, including powering the company's MoReTec-1 plastic recycling plant in the Rhine-Valley town of Wesseling.

In a separate 10-year deal, Lyondell agreed to buy 79 gigawatt-hours of power a year from renewable-energy firm wpd, which will generate the power at a Sicilian onshore wind farm. Beginning in 2026, the agreement would provide electricity to the region, including a Lyondell production site and research center in Ferrara, northern Italy.

Lyondell has committed to becoming "net zero" on greenhouse gas emissions by 2050.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

January 29, 2025 09:10 ET (14:10 GMT)

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