Chevron has announced plans to build 500MW of renewable projects to power some of its global oil and gas operations.
The oil giant has sealed an agreement with the North American renewable energy company Algonquin to co-develop projects, which will provide electricity to strategic assets across Chevron’s global portfolio.
The plants will be focused on powering Chevron’s operations in the US Permian Basin, Argentina, Kazakhstan and Western Australia.
The projects will be jointly owned and co-developed by both parties – Algonquin will be responsible for the design, development and construction while Chevron will buy electricity through power purchase agreements.
The 500MW of capacity outlined in the agreement is equivalent to the energy used to power 400,000 households for a year.
Allen Satterwhite, President of Chevron Pipeline and Power, said: “This agreement advances Chevron’s commitment to lowering our carbon footprint by investing in renewable power solutions that are reliable, scalable, cost-efficient and directly support our core business.”
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