Solar developer Lightsource bp has signed a 149MW power purchase agreement (PPA) with chemical manufacturer LyondellBasell.
Starting from 2026, the deal will see Lightsource bp provide LyondellBasell with around 284,000MWh of solar power annually from one of its projects in Spain. Lightsource said that the unspecified project will include environmental measures like reintroduction of native species and protective areas for birds.
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Earlier this year, Lightsource bp – a joint-owned company with British oil giant bp – opened a new headquarters in Madrid, aiming to build on the company’s growth and success in the region since its entry in 2019.
Zosia Riesner, director of power markets for Europe at Lightsource bp, said: “We take immense pride in our ability to offer tailored and customised solutions to our customers while leveraging Lightsource bp’s global reach to offer additionality and innovative structures through our contracts. Our continued investment in growing our pipeline of projects across Spain provides exciting opportunities for collaborations like this in the near future.”
LyondellBasell said that with the inauguration of this project it will reach 78% of its total renewable electricity goal – to source at least 50% of its electricity consumption from renewable generation by 2030.
“We are taking decisive steps to reduce our absolute scope 1 and 2 greenhouse gas emissions, while creating solutions for everyday sustainable living,” said Chris Cain, LyondellBasell senior vice president for net zero transition strategy. “Solar power purchase agreements accelerate the development of clean energy and are a critical lever in our emissions reduction efforts.”
Lightsource bp’s presence is increasing across Europe, and the company says it has a 10GW portfolio of projects at various stages of development across the continent.
In the last two months, it has signed deals with Greek developer HELLENiQ and a corporate PPA with Microsoft in Poland. The former saw Lightsource bp sell 180MW worth of PV projects to HELLENiQ, expected online between Q1-Q3 2024, whilst the latter was a maiden Polish agreement for both Lightsource bp and Microsoft.