INEOS agrees to largest ever industrial wind power purchase contract
INEOS has concluded the largest ever purchase contract of wind energy for heavy industry in Belgium.
The 10-year agreement with energy producer ENGIE, for the purchase of renewable electricity, will avoid 1,150,000 tonnes of CO2 emissions and give a significant boost to the further development of capital-intensive offshore wind market.
Renewable energy will be supplied to INEOS from the Norther offshore windfarm in the North Sea from 1st January 2021. The long-term 84 MW commitment will initially be used by existing INEOS production sites and later by Project ONE, the INEOS investment in two state of the art chemical plants for the production of ethylene and propylene in Antwerp, announced last year
John McNally, CEO INEOS Project ONE said: “This agreement is an important step for INEOS in reducing emissions from energy consumption in Belgium.
“Project ONE will be the most energy efficient chemical complex of its kind in Europe, using the newest technologies. Our propane dehydrogenation unit has been designed with a maximum level of electrification, which makes it possible to virtually eliminate indirect emissions by using only green electricity.
“In the coming months, we will continue to look at the options for further expanding the use of renewable energy.”
Gerd Franken, Chairman INEOS Olefins & Polymers Europe said: “This significant deal will reduce our carbon footprint in Belgium by more than one million tonnes of CO2 , the equivalent of taking 100,000 cars off the road each year, from the beginning of next year for ten years.
“It is the first of many environmental investments from our business as we continue to supply the products that people increasingly need across medical, food, transport and construction.”
Philippe van Troeye, CEO ENGIE Benelux said: “Being the largest green energy producer in Belgium, ENGIE acts to accelerate the transition towards a carbon-neutral world, supporting its clients in reaching their sustainability goals.
“In order to reach this ambition, ENGIE develops integrated, custom solutions to support its customers in making their own energy transition.
“We are proud to help INEOS meet their environmental goals, by facilitating their consumption of renewable energy in Belgium.
“This contract also illustrates ENGIE’s strong ambition to increase renewables’ development in Belgium, as several PPAs have been signed with major companies during the last months.”