Page 45 - Plastics News July 2024

COMPANY NEWS

Under the terms of the power purchase agreement, Covestro aims to convert its production to 100 per-
bp has agreed to supply Covestro with a high dou- cent renewable energy as part of its climate goals
ble-digit GWh volume of renewable electricity for a until the end of 2035. At the end of 2023, Covestro
period of 10 years, backed by an equivalent volume fulfilled approximately 16 percent of its global elec-
of Guarantees of Origin (GoO). The current plan is to tricity needs from renewable sources.
source the renewable power from an already opera-
tional solar photovoltaic (PV) farm, in Teruel, in the bp has been active in the Spanish natural gas mar-
Aragon region of eastern Spain, with which bp has ket for more than 20 years, through management
an offtake agreement in place. of their LNG portfolio, and supply to C&I customers.
In the power and renewables space, bp manages a
portfolio of solar offtake and also supplies renew-
able power, a key growth area for the bp trading
business in Europe.

Source - Covestro

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July 2024 PLASTICS NEWS 47