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Axpo and Ineos Oxide sign corporate PPA in Belgium

02.05.2024 Axpo and Ineos Oxide, a leading chemicals manufacturer in Belgium, have signed a corporate power purchase agreement (PPA), it was announced today. The long-term deal covers 12 megawatts of renewable energy, making an important contribution to the green transition in the Antwerp port area. 

Under the five-year deal, in May 2024 Axpo commenced the delivery of 30 GWh a year of wind-generated power to the Ineos Oxide manufacturing site in Antwerp. This corresponds to an annual consumption of around 7,500 households, saving the equivalent of more than 11,000 tonnes of CO2 emissions a year. This renewable energy is sourced from wind turbines located on the left bank of the Port of Antwerp and owned by wind farm developer Wind aan de Stroom. Axpo will also supply guarantees of origin for a five-year period.

Axpo Senior Originator Jeremiah Tops said: “We’re thrilled to enable this important deal, which supports decarbonisation of the Antwerp port area and helps Ineos Oxide reach its sustainability targets. Long-term corporate PPAs not only advance the energy transition, one megawatt at a time, but also ensure price stability, protecting companies against the huge price swings we’ve seen in recent years.”

Ineos Oxide business manager Johan Loots added: "We are constantly looking for synergies in our cooperation with companies on our site. Pooling the demand for renewable power and sourcing it collectively fits perfectly into this picture. We are pleased to contribute in this way, making operations in the Zwijndrecht chemical cluster more sustainable."

Wind aan de Stroom CEO David Daggelinckx said: “We passionately commit to delivering the green energy generated in the Port of Antwerp to businesses within the port area. Partly thanks to our supply of sustainable energy to Ineos, around 80% of the local production is already consumed on-site starting from May 1st. This initiative significantly contributes to a more sustainable and environmentally friendly energy supply for the port.”

As a cluster site, home to nine other chemical companies, Ineos Oxide will also be supporting the sustainability objectives of other companies operating there. Onsite partners EVAL Europe (a Kuraray company) and Nippon Shokubai are among the first to offtake the wind-generated electricity, enabling them to use green energy in their production activities.

Axpo Holding AG

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