NextEra breaks ground for 310 MW Texas solar farm for INEOS petrochemical operations

Reuters06-21

NEW YORK, June 20 (Reuters) - NextEra Energy Resources broke ground on a 310 megawatt solar farm to power facilities of chemical manufacturer INEOS Olefins & Polymers USA, the petrochemical business said on Thursday.

The solar plant in Bosque County, Texas, which the subsidiary of NextEra Energy Partners will build, own and operate, is expected cut 310,000 tons of carbon emissions after starting up in late 2025, INEOS said in a statement.

“This solar project is a crucial step in our global efforts to reduce the carbon footprint of INEOS businesses," the company's Chief Executive Officer Mike Nagle said in a statement.

U.S. solar installations reached record highs last year as climate-driven government incentives, coupled with an easing of restrictions on imported panels and rising electricity demand, propelled the sector.

Electrifying the Texas oil and gas industry is expected to be one of the biggest drivers of growth in industrial power demand.

The solar farm for INEOS is slated to produce an annual 730,000 megawatt-hours, or the equivalent of electricity needed to power nearly 70,000 homes.

(Reporting by Laila Kearney Editing by Bill Berkrot)

((Laila.kearney@thomsonreuters.com; (917) 809-0054;))

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