INEOS has signed a long-term power purchase agreement with sustainable energy producer Eneco for renewable offshore wind power in Belgium.
Under the terms of the 10-year deal, INEOS will purchase 65.5 MW (250 GWh per annum) of offshore wind power from Eneco, produced at the SeaMade offshore wind park in the Belgian North Sea.
The renewable electricity from this agreement will be used to support INEOS Olefins and Polymers, INOVYN and Styrolution businesses, allowing the latter to switch its German assets to green power.
This is the third renewable power deal agreed by INEOS as part of its road map to reduce greenhouse gas emissions across its operations, as the company continues to supply essential products that people increasingly need across medical, food, transport and construction.
Combined with previously announced deals, the agreement with Eneco increases the INEOS commitment to Belgian offshore renewable wind to 205 MW (~750 GWh per annum).
“This agreement with Eneco represents an important step in achieving our long-term sustainability goals,” says David Thompson, CEO of INEOS Trading. “Combined with our previous deals this reflects a significant commitment across three different Belgium offshore wind parks and underpins our commitment to reducing our carbon footprint.”
“Developing sustainable power supplies together with our customers is a central pillar in our One Planet strategy to become a net zero company by 2035,” states Kees-Jan Rameau, chief strategic growth officer and board member of Eneco. “INEOS also wants to contribute to a net zero economy and is therefore taking concrete actions to reduce their climate footprint. With our collaboration we can contribute to making INEOS operations run on renewable energy sources and at the same time accelerate the energy transition.”