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SABIC reports that its polycarbonate facility is set to become the world's first chemical production site with renewable energy.
SABIC plans to build a chemical plant in Spain entirely powered by renewable energy, in what is the first project of its kind anywhere in the world involving renewable energy. The polycarbonate facility in Cartegena is expected to be fully operational by 2024, powered by a 100MW solar PV plant. The agreement will allow Iberdrola, one of the largest electricity utilities in the world, to invest almost 70 million euros to install 263.000 panels on land belonging to SABIC. Thus, it ends up becoming the largest industrial renewable energy plant in Europe and the world.
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25-year agreement for renewable energy production
The 25-year agreement for the chemical plant in Spain represents part of the company's ambition Riyadh Petrochemicals to have 4 gigawatts (GW) of wind or solar power installed at its sites around the world by 2025. Rising to 12GW by 2030. Similarly, last year the company installed solar panels at its facilities in India and Thailand. And it ended up helping to reduce its greenhouse emissions by 200 tons.
“Partnerships of this kind are the foundation of our business growth model” in the renewable energy industry, said Bob Maughon, executive vice president of sustainability, technology and innovation at SABIC. “In recent years, the many advances in renewable energy technology in Spain made deployment on this kind of scale possible.”
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SABIC has future plans for future PV installations
Furthermore, SABIC, in addition to the chemical plant, also plans to install photovoltaic and wind energy technology at its global headquarters in Riyadh. While a final feasibility study is underway with Marafiq and the Royal Commission of Jubail and Yanbu to explore a $300m, 300 megawatt solar farm project on the west coast of the Kingdom.
In conclusion, once completed, SABIC responsible for the chemical plant will take the electricity generated by the plant and deliver it to the local chemical plants in the Spain. Said the company. The Company produces chemicals, plastics and agro-nutrients worldwide, employs more than 33.000 people and contributes with renewable energy.
