INEOS Olefins & Polymers USA announces renewable power purchase agreement with NextEra Energy Resources for new solar project.
INEOS Olefins & Polymers USA announced today it has entered into a renewable power purchase agreement which will enable the construction of a new 310-megawatt solar project located in north central Texas. The INEOS Hickerson Solar Farm will be constructed, owned and operated by a subsidiary of NextEra Energy Resources, LLC, the world’s largest generator of renewable energy from wind and sun and a world leader in battery storage. The entire output of the new solar project will be dedicated to INEOS O&P USA and is projected to cover the net purchased electricity load of all 14 of INEOS O&P USA’s manufacturing, fractionation and storage facilities in the U.S. The new solar project will be located in Bosque County, Texas, and is ultimately expected to produce 730,000 megawatt hours of clean energy annually – the equivalent of over 68,000 homes’ annual electricity use – and is expected to reduce greenhouse gas emissions by more than 320,000 tons per year.
“INEOS O&P USA seeks to be a bellwether of what the petrochemical community can do to adopt renewable energy among its long-term energy demands, and this is one of many important steps being taken globally to reduce the carbon footprint of all the INEOS businesses,” said CEO Mike Nagle.
“We’re pleased to work with INEOS O&P USA and support the company’s renewable energy goals,” said Matt Handel, senior vice president of development for NextEra Energy Resources. “We commend INEOS for taking a leading role in decarbonizing the petrochemical industry.”
Construction on the INEOS Hickerson Solar Farm is expected to commence in Q1 2024, with a planned commercial operation date by December 2025.
Note to Editors:
Other Power Purchase Agreements (PPAs).
12 January 2022: INEOS signs renewable power deal with Eneco. The deal increases INEOS' total Belgian offshore wind generation to over 200MW and reduces CO2 emissions by nearly 3 million tonnes.
17 December 2020: INEOS signs renewable power deal with RWE to reduce CO2 emissions from its Belgian sites by a further 745000 tonnes
22 September 2020: INEOS agrees to the largest ever industrial wind power purchase contract in Belgium with ENGIE
INEOS is a global manufacturing company making the raw materials and energy used for everyday life. Its products make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. For example, preservation of food and clean water; construction of wind turbines, solar panels and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications.
INEOS operates 184 sites across 31 countries, generates $65 billion annually and employs over 25,000 people. Complementing our core business, INEOS is making an impact across a range of elite sports and becoming increasingly known to consumers, with the launch of the Grenadier (our uncompromising 4x4) and INEOS Hygienics.
INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation. As part of its greenhouse gas emission reduction strategy, there is widespread goal to move to a more circular economy, in which materials are re-used to their maximum extent.
About INEOS USA.
INEOS USA LLC, under the trade name INEOS Olefins & Polymers USA, and in conjunction with its various subsidiaries, is an major, integrated manufacturer of petrochemical products in North America, from upstream oil and gas production, to NGL fractionation, to olefins and polymers production, to downstream plastic pipe conversion, with production capacity of 14.1 billion pounds per year of NGLs, olefins, polypropylene, and high-density polyethylene (HDPE) from 5 manufacturing sites (including joint ventures), and 846 million pounds per year of HDPE pipe from 9 manufacturing sites. INEOS O&P USA has annual gross revenue of approximately $5 billion, employs 1,900 people, and is headquartered in League City, Texas, U.S.A.