Page 168 - CW E-Magazine (16-7-2024)

News from Abroad

MOVING TO RENEWABLES
Covestro and BP sign long-term supply agreement

for solar power in Spain

German polymer materials manu- a high double-digit GWh volume of
facturer Covestro and UK’s BP have renewable electricity for a period of 10
signed a long-term power purchase years, backed by an equivalent volume
agreement (PPA) for renewable energy of Guarantees of Origin (GoO). The
from a solar power plant in Spain. The current plan is to source the renewable
10-year agreement increases the share power from an already operational
of renewable energy in Covestro’s total solar photovoltaic (PV) farm, in Teruel,
electricity consumption in Spain from in the Aragon region of eastern Spain,
less than 10% to approximately 30%. with which BP has an offtake agree-
ment in place.
The deal builds on Covestro’s production site in Tarragona can now
announcement in 2022 around its three also be supplied by renewable sources, Covestro aims to convert its produc-
smaller production sites in Spain, which enabling Covestro to cut its CO tion to 100% renewable energy as part
2
started running on 100% renewable emissions by approximately 16-ktpa. of its climate goals until the end of 2035.
electricity. With the new agreement, At the end of 2023, Covestro fulfilled
a significant portion of the electricity Under the terms of the PPA, BP approximately 16% of its global electri-
consumed by the company’s main has agreed to supply Covestro with city needs from renewable sources.

EPC CONTRACT
Técnicas Reunidas bags engineering deal for ammonia

projects in Spain

Spanish engineering company, Téc- within the framework of the IGNIS jects across Spain and other selected
nicas Reunidas, has signed an agree- P2X project launched by IGNIS countries, as well as more than 10-GW
ment with integrated renewable group together with investment company of advanced and early-stage renew-
IGNIS to provide engineering services KKR and is said to be a part of ables in Spain and additional renewable
for the design of up to five green IGNIS’ strategy in the field of new projects globally, to be developed by a
ammonia projects in different locations energy vectors. dedicated P2X team.
in Spain, with a possible final investment
that could exceed €5-bn. The IGNIS P2X platform will Técnicas Reunidas said that in 2023
mainly develop hydrogen and green and during the first months of 2024,
Through the agreement, Técnicas ammonia projects for industrial the company was awarded more than
Reunidas will provide engineering ser- applications in industrial sectors that €300-mn in projects related to low-
vices for the design of the projects from are difficult to decarbonise, including emission technologies. These awards
the feasibility phase to the front-end green hydrogen, ammonia, e-methanol, are engineering services contracts for
engineering design (FEED), including e-fuels and SAF production plants, projects in the hydrogen value chain,
the evaluation and selection of techno- which will provide services for com- biofuels or carbon capture.
logies. Furthermore, the agreement con- panies in sectors such as refining,
templates alternatives for the execution steel, chemical and fertilisers, among IGNIS focuses on the renewable
of the projects, whose locations have others. energy sector and innovative energy
already been identified. solutions. Currently, it is said to have
IGNIS said the platform includes a an operational portfolio of 6.6-GW of
The agreement has been signed pipeline of around 20-GW of P2X pro- generation technologies.

168 Chemical Weekly July 16, 2024

Contents Index to Advertisers Index to Products Advertised