INEOS signs PPA contract with Eneco for the 487 MW SeaMade wind project off the coast of Ostend

INEOS has signed a 10-year Power Purchase Agreement with sustainable energy producer Eneco for the 487 MW SeaMade wind project located 40-50 km off the coast of Ostend, Belgium.

Under the terms of the ten-year deal, which begins in 2022, INEOS will purchase 65,5 MW (250 GWh per annum), produced at the SeaMade offshore wind park. The agreement will take around 13.5% of SeaMade’s renewable electricity. It will reduce the carbon footprint of INEOS by a further 940,000 tonnes of CO₂ over the length of the contract, which is the equivalent of taking 70,000 cars off the road each year. 

The renewable electricity from this agreement will be used to support INEOS Olefins and Polymers, INOVYN, and Styrolution businesses, allowing the latter to switch its German assets to green power from January 2022 onwards. Eneco Wind Belgium has a 12.5% stake in the project. Other shareholders are ENGIE Electrabel (17.5%) and Otary RS NV, in which several parties are united (70%).