- 10 year 56-Megawatt (~200 GWh per annum) Renewable Power Purchase Agreement
- Renewable electricity goes direct to INEOS sites in Belgium.
- Advances emission reductions at INEOS sites in Belgium to nearly 2 million tonnes of CO2
- Forms important part of the INEOS roadmap for a reduction in carbon-based energy for its facilities
INEOS has agreed a long term Power Purchase Agreement for renewable offshore wind power in Belgium with RWE. Under the terms of the ten-year deal, which begins in 2021, INEOS will purchase 56-Megawatt (198 GWh per annum) of off-shore wind power from RWE Supply &Trading, produced at the Northwester2 wind park in the Belgian North Sea.
This significant deal will take ca. 25% of Northwester2’s renewable electricity. It will reduce the carbon footprint of INEOS in Belgium by a further 745,000 tonnes of CO2 over the length of the contract, which is the equivalent of taking 65,000 cars off the road each year.
This is the second renewable power deal agreed by INEOS as part of our road map to reduce greenhouse gas emissions from across its operations, as the company continues to supply essential products that people increasingly need across medical, food, transport and construction.
Combined with the Norther deal announced in September with Engie, the agreement with RWE increases the INEOS commitment to Belgian offshore renewable wind to 140 MW (~500 GWh per annum). Together this reduces the carbon footprint of its operations by nearly 2 million tons of CO2 over the life of the contracts; the equivalent of taking more than 160,000 cars off the road each year.
David Thompson, CEO INEOS Trading said: "This agreement with RWE is another important step as we further reduce our carbon emissions from our energy consumption in Belgium. Combined with our earlier agreement in September, the deals reduce our carbon footprint by nearly 2 million tonnes of Carbon Dioxide. We will continue to look at the options for further expanding the use of renewable energy, as agreements such as this support our roadmap towards a reduction in carbon based energy across our sites."
This contract illustrates RWE’s strong ambition to increase renewables’ development worldwide, as several PPAs have been signed with major companies during the last months.
"We are excited that we are able to support INEOS in further reducing its greenhouse gas emissions," said Andre Stracke, CCO at RWE Supply & Trading. "With our global portfolio, we are among the largest producers of power from renewables. We provide tailor-made solutions to industrial customers and municipal utilities and help them to reach their climate protection targets."
Regina Wolter (RWE)
+49 (0) 1520 6855300
Richard Longden (INEOS)
+41 799 626 123
INEOS is a global manufacturer of petrochemicals, specialty chemicals and oil products. In 20 years, the Company has grown into a global player: It has a turnover of $61 bn and employs 20,000 people across its production network spanning 183 sites in 26 countries throughout the world. From Zwijndrecht, where INEOS started its first activities in 1998, INEOS expanded its position in Belgium with 9 production sites and R&D centres in Antwerp, Jemeppe and Neder-Over-Heembeek. Today, INEOS has 2,500 employees in the region. In early 2019, INEOS announced a mega investment in Antwerp: the construction of an ethane cracker and propane dehydrogenation unit for the production of ethylene and propylene. It is the largest investment in European chemistry in the last 20 years, which will create around 450 jobs. More info: www.ineos.com
About RWE Supply & Trading
RWE Supply & Trading is the interface between RWE and the energy markets around the world. Approximately 1,600 employees from 40 countries trade electricity, gas, commodities and CO2 emission allowances. Accurate market analyses and a high degree of customer centricity enable them to create innovative energy supply solutions as well as risk management concepts for industrial operations. The trading company also ensures the commercial optimisation of power plant dispatch at RWE and markets electricity from renewables.In addition, there are the legally independent RWE gas storage companies under the umbrella of RWE Supply & Trading. More info: www.rwe.com
About Northwester 2
The Northwester 2 offshore wind farm produces green energy from 23 wind turbines of 9,5 MW each and was the first to use the world’s highest rated V164-9.5 MW turbines in commercial operation. The entire generation of the Northwester 2 wind farm has been marketed by RWE Supply & Trading since spring 2020. It was the seventh wind farm that came online in the Belgian North Sea, which has a total offshore energy capacity of 2,262 MW. Northwester 2 actively contributes for Belgium to reach the goal of supplying 10 % of energy demand with offshore wind by the end of 2020. Northwester 2 is a project company holding the concession approximately 51km offshore in the Belgian territorial waters. Parkwind has been in charge of the development and construction. The company is headquartered in Leuven (Belgium) and operates the wind farm from the Ostend harbour. More info: http://parkwind.be/