TotalEnergies, LyondellBasell Reach 275MW Texas Solar PPA
- TotalEnergies and LyondellBasell have partnered to provide 275 MW of solar power to Texas, unlocking potential gains from increased market prices and reducing greenhouse gas emissions.
TotalEnergies and LyondellBasell have signed two corporate power purchase agreements (PPAs) for a combined 275 megawatts (MW) of solar power in Texas. TotalEnergies will provide 125 MW (163 MW DC) from its 325-MW DC Brazoria solar farm, which is expected to be online at the end of 2025. The second PPA is for a 150-MW (195 MW DC) portion of TotalEnergies' 455-MW DC Cottonwood Bayou solar plant, which is set to go live at the end of 2024. The PPAs have a term of 15 and 12 years respectively, with an upside-sharing mechanism where any potential gains from increased market prices are split by the two companies. Through these deals, LyondellBasell is aiming to reduce its greenhouse gas emissions, while TotalEnergies is helping corporations achieve their decarbonisation goals.
How Will TotalEnergies and LyondellBasell's PPAs Reduce GHG Emissions?
- TotalEnergies and LyondellBasell's PPAs will reduce GHG emissions by replacing electricity generated from fossil fuel sources with renewable solar energy.
- The Brazoria and Cottonwood Bayou solar plants will provide 275 MW of clean energy to meet the energy needs of LyondellBasell and its customers.
- The PPAs have an upside-sharing mechanism, meaning that if there are increased market prices, the gains will be split between the two companies, thus providing an incentive for renewable energy projects.
- The renewable energy provided by the PPAs will reduce electricity demand from sources that produce GHG emissions, contributing to the reduction of global carbon emissions.
- The two companies are also helping other corporations achieve their decarbonisation goals, setting an example for other businesses to follow in transitioning to renewable energy sources.
