power move

LyondellBasell announces renewable energy power purchase agreement with German partner

LYB is building its first industrial-scale catalytic advanced recycling demonstration plant at its site in Germany. Photo via lyondellbasell.com

Houston-based chemical company LyondellBasell has agreed to secure 208 megawatts of renewable energy capacity from a solar park in Germany.

Under the 12-year deal, LyondellBasell will purchase about 210 gigawatt-hours of solar power each year from Germany-based Encavis Asset Management. That’s enough energy to power about 56,500 homes each year.

LyondellBasell aims to purchase at least half of its electricity from renewable sources by 2030. The deal with Encavis will enable LyondellBasell to achieve more than 90 percent of that goal.

A report from BloombergNEF ranks LyondellBasell as the world’s third largest corporate buyer of clean energy, behind Amazon and Meta.

“This latest agreement will accelerate the development and deployment of clean energy across different sectors in Germany,” says Chris Cain, LyondellBasell’s senior vice president for net-zero transition strategy.

Construction of the solar park got underway in March, with completion set for next summer. The park’s total generating capacity for solar power will be 260 megawatts, which is enough to supply electricity to about 96,000 homes per year.

“Leveraging our industry know-how, we are committed to operating the solar park in an environmentally sustainable and economically profitable manner,” says Karsten Mieth, a spokesman for Encavis Asset Management.

Encavis Asset Management is a wholly owned subsidiary of Encavis, a large-scale producer of wind and solar power in Europe.

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A View From HETI

EnergyTech Nexus has named 19 companies as Global Founding Partners. Photo via Unsplash.

EnergyTech Nexus, a Houston-based hub for clean energy startups, announced its coalition of Global Founding Partners last month at its Pilotathon event during Houston Energy and Climate Week.

The group of international companies will contribute financial and technical resources, as well as share their expertise with startup founders, according to a news release from EnergyTech Nexus.

“Our Global Founding Partners represent the highest standards of industrial leadership, technical expertise and commitment to innovation,” Juliana Garaizar, co-founding partner of EnergyTech Nexus, added in the release. “Their collaboration enables us to connect groundbreaking technologies with the resources, infrastructure, and markets needed to achieve global scale.”

Houston-based partners include:

  • Cemvita Inc.
  • Chevron Technology Ventures
  • Collide
  • Greentown Labs
  • Kauel
  • Oxy Technology Ventures
  • Revterra
  • Sunipro

“At Collide, we believe progress happens when the right people, data, and ideas come together. Partnering with EnergyTech Nexus allows us to support innovators with the insights and community they need to accelerate deployment at scale,” Collin McLelland, co-founder and CEO of Collide, a provider of generative artificial intelligence for the energy sector, said in the release.

"Revterra is thrilled to be a founding member of the EnergyTech Nexus community," Ben Jawdat, founder and CEO of kinetic battery technology company Revterra, added. "Building a strong network of collaborators, customers, and investors is critical for any startup — particularly when you're building novel hardware. The Energytech Nexus community has been incredible at bringing all of the right stakeholders together."

Other partners, many of which have a strong presence in Houston, include:

  • BBVA
  • EarthX
  • Endress+Hauser
  • Goodwin
  • Greenbackers Investment Capital
  • ISR Energy
  • Latham & Watkins LLP
  • Ormazabal
  • Repsol
  • STX Next
  • XGS Energy

Jason Ethier, co-founding partner of EnergyTech Nexus, said that partnerships with these companies will be "pivotal" in supporting the organization's community of founders and Houston's broader energy transition sector.

“The Energy and Climate industry deploys over $1.5 trillion in capital every year to meet our growing energy demands. Our global founding partners recognize that this energy must be delivered reliably, cost effectively, and sustainably, and have committed to ensuring that technology developed without our ecosystem can find a path to market through testing and piloting in real-world conditions," Ethier said. "The ecosystem they support here solidifies Houston as the global nexus for the energy transition.”

EnergyTech Nexus also recently announced a "strategic ecosystem partnership" with Greentown Labs, aimed at accelerating growth for clean energy startups. Read more here.

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