RPC breaks ground on 230 MW of Swedish wind to supply LyondellBasell

Renewable Power Capital (RPC) said today it has launched the construction of two onshore wind farms in Sweden with a combined capacity of 230 MW, which will sell their power to plastics, chemicals and refining company LyondellBasell (NYSE:LYB).

LyondellBasell will offtake the wind farm’s output under two 10-year power purchase agreements (PPAs), supporting its target to procure at least 50% of electricity from renewable sources by 2030, based on 2020 levels.

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The wind projects, Storhojden and Knasjoberget, are part of RPC’s 553-MW cluster of four wind farms, for which it recently ordered 80 Nordex turbines. The turbine maker will start delivering and installing the turbines in the spring of 2025, with Storhojden and Knasjoberget set to come online at the beginning of 2026. The two wind farms are expected to produce 720,000 MWh a year.

Commenting on the start of construction, Steve Hunter, Managing Director of Power Markets and Asset Management at RPC, said: “This progress, and the fact we have already secured PPAs for the wind farms, is a testament to both the expertise of our team and the strength of our subsidy-free investment strategy.” RPC is a London-based European renewables platform backed by CPP Investments.

“We are taking decisive steps to reduce our scope 1 and 2 greenhouse gas emissions and power purchase agreements are a critical lever towards meeting our targets,” said Chris Cain, Senior Vice President for Net Zero Transition Strategy at LyondellBasell.

In January 2024, RPC also signed a 10-year PPA for the 161-MW Vitberget wind farm, which is also part of the cluster, with metal and glass packaging supplier Ardagh​​ Group SA.

Meanwhile, a recent report by BloombergNEF, ranked LyondellBasell as the third largest corporate buyer of clean energy in 2023.