MEGlobal inks renewable power supply deal with Calpine
MEGlobal's Oyster Creek production site. Image by: MEGlobal.
US chemical products maker MEGlobal Americas Inc will procure 100% renewable electricity for a production site in Texas under a deal with retail energy provider Calpine Energy Solutions LLC.
MEGlobal, a subsidiary of Kuwait’s Equate Petrochemical Company, is a producer of ethylene glycol. The company said on Tuesday it has signed an agreement with Calpine to buy more than 1.5 million MWh of renewable power to cover the full expected electricity requirement of its Oyster Creek site.
The contract has a five-year term. It was signed to back MEGlobal’s plan to transition to renewable electricity in 2022 and the sustainability commitment of its parent company.
Power supplies for Oyster Creek, which has been operational since 2019, are set to begin in 2023. The contracted volume is estimated to displace more than 600,000 tonnes of carbon dioxide (CO2) emissions.
"Purchasing energy from renewable resources such as wind and solar makes good sense for our company and our environment," said Naser Aldousari, CEO of Equate Petrochemical.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.