TotalEnergies inks new supply agreement with LyondellBasell
In France, TotalEnergies said it has signed a second contract with LyondellBasell to supply a combined 358 MW of green electricity sourced from its utility-scale Cottonwood Bayou and Brazoria Solar farms in Texas. Through the newly signed 15-year CPPA, LyondellBasell will offtake 163 MW from TotalEnergies’ Brazoria Solar farm, located southwest of Houston, with a capacity of 325 MW and a commercial start-up planned for end of 2025. Through the 12-year CPPA signed in 2022, LyondellBasell will offtake 195 MW from TotalEnergies’ Cottonwood Bayou Solar plant, a project located south of Houston, with a capacity of 455 MW and a commercial start-up planned for end of 2024. The two CPPAs are indexed on merchant prices through an upside-sharing mechanism, under which the companies share any potential upside arising from increased market price over the contract term. “TotalEnergies is proud to support LyondellBasell on its climate goals. The signing of these new upside sharing CPPAs in the United States is consistent with our strategy to take merchant exposure and will contribute to the objective of profitable growth for our Integrated Power business”, said Vincent Stoquart, Senior Vice President, Renewables at TotalEnergies.
