INEOS signs 10-year agreement (cPPA) with Eneco to purchase renewable energy from offshore wind farm SeaMade
Largest cPPA for Eneco in Belgium
- INEOS signs a corporate power purchase agreement (cPPA) for wind energy with sustainable energy supplier Eneco.
- Renewable energy to be sourced from the offshore wind farm SeaMade
- INEOS will purchase 65,5 megawatts of green energy over the next 10 years.
- cPPA’s fit into Eneco's One Planet Plan to be fully climate-neutral by 2035.
- This is the largest cPPA for Eneco in Belgium.
INEOS has signed a long-term corporate power purchase agreement (cPPA) with Eneco to source renewable electricity from SeaMade, the largest Belgian offshore wind farm. The agreement entails the purchase and supply of over 65,5 megawatt of wind power over the next decade, with delivery set to begin in January 2022.
This significant deal will take ca. 13,5% of SeaMade’s renewable electricity. It will reduce the carbon footprint of INEOS by a further 940,000 tonnes of CO2 over the duration of the contract, which equates to taking 70,000 cars off the road each year.
The renewable electricity from this agreement will be used to support INEOS Olefins and Polymers, Inovyn and Styrolution businesses.
David Thompson, CEO INEOS Trading: "This agreement with Eneco represents an important step in achieving our long-term sustainability goals. Combined with our previous deals this reflects a significant commitment across 3 different Belgian offshore wind parks and underpins our commitment to reducing our carbon footprint.”
For Eneco, this agreement is the largest cPPA it has closed to date in Belgium. cPPA’s fit perfectly with Eneco's One Planet Plan to become climate-neutral by 2035, both for its own activities as well as for all its retail and business customers.
Kees-Jan Rameau, Chief Strategic Growth Officer and Board Member of Eneco: "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. INEOS also wants to contribute to a net zero economy and is therefore taking concrete actions to reduce its 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.”
SeaMade (inaugurated in October 2021) is the latest wind farm of the first wind farm zone off the Belgian coast to become fully operational. At this moment eight wind farms are operational in the Belgian North Sea, with a total installed capacity of 2.262 MW.
In the future, cPPA’s will gain even more importance, says Eneco. In a few years' time, the development of the Prinses Elisabeth-Zone, a new wind farm along the western Belgian coast, will begin. The initial target was 2.2 gigawatts of green energy, but last autumn the federal government increased the capacity to 3.5 gigawatts. Due to cPPA’s Eneco can continue to invest in the production of renewable energy.
About Eneco
Eneco consists of a group of companies active internationally The Netherlands, Belgium, UK and Germany) in the field of renewable energy and innovation. Together with our customers, partners and almost 2,800 employees, we work on our mission: sustainable energy for all. We invest in wind farms, biomass plants, heat and solar parks to increase the supply of renewable energy. And we develop innovative products and services so that our customers can control how to generate, store, use or share energy. www.eneco.com
About SeaMade
SeaMade NV, is a combination of 2 offshore windfarm concessions: SEAstar (252 MW) and merMAID, (235 MW), a cooperation between Otary RS NV (70%), Electrabel NV (17.5%) and Eneco Wind Belgium SA (12.5%). With 58 8.4 MW wind turbine generators and 2 offshore substations in both concession areas, SeaMade is the largest wind farm built in the Belgian North Sea, with an operational capacity of about 487 MW. SeaMade is operational since 2020 and supplies renewable energy for an equivalent of 500,000 households.