X-ELIO powers on Texas solar-and-storage plant that will supply BASF Freeport operations
Rhea-AI Summary
X-ELIO has launched operations at its Liberty Energy Project in Dayton, Texas, featuring 72 MW of solar photovoltaic capacity and 60 MW of battery storage capacity. This marks X-ELIO's first combined solar PV and battery energy storage system project in the United States.
Through a 12-year Power Purchase Agreement (PPA), BASF (OTC:BASFY) will source 48 MW of electricity from the Liberty Project to power its Freeport site, enabling 100% renewable energy supply for the facility's expected power needs. This development supports BASF's commitment to achieving net-zero emissions by 2050.
X-ELIO is currently developing a pipeline of 2.8 GW of solar PV and 2.1 GW of storage projects in the U.S. The company has also implemented various community initiatives in Liberty County through its Community & Nature Plan Program.
Positive
- Project enables BASF Freeport to achieve 100% renewable energy supply for expected power needs
- Secured 12-year Power Purchase Agreement with BASF, providing long-term revenue stability
- X-ELIO has substantial development pipeline of 2.8 GW solar and 2.1 GW storage projects in the U.S.
- Project combines both solar (72 MW) and battery storage (60 MW) capabilities, enhancing grid reliability
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, BASFY declined 1.45%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- The Liberty Energy project has 72 MW of solar PV capacity and 60 MW of battery storage capacity
- Key milestone in achieving
100% renewable energy supply for BASF Freeport's expected power needs
The inauguration ceremony at the Liberty site brought together representatives from both companies, along with key stakeholders including institutional representatives, project partners, and members of the local community who have partnered with X-ELIO through its Community & Nature Plan Program.
"The inauguration of the Liberty Project marks an important milestone in our journey toward more sustainable operations and enabling the green transformation of our customers," said Brad Morrison, Senior Vice President and General Manager at BASF Freeport. "Thanks to our partnership with X-ELIO, we are able to supply
BASF will source 48 MW of electricity from the Liberty Project to help power its
"The Liberty Project represents a major step in our planned expansion in the
"This Project exemplifies how X-ELIO creates high-quality projects that ensure cost-effective and reliable energy, providing significant value to our partners," said Kerri Neary, Country Manager of X-ELIO in the
Social and local commitment
Under the umbrella of its Community & Nature Plan Program, X-ELIO remains committed to supporting local communities and organizations throughout the lifecycle of its projects. In coordination with local partners in the county, the company has undertaken several initiatives to benefit the surrounding neighborhoods.
These include the creation of the Dwelling Garden in Liberty, a shared green space for the community to gather; the construction of a boardwalk at Kleb Woods Nature Preserve, improving accessibility for people with reduced mobility, families with children, and all community members; and the restoration of the drainage system at the Liberty Food Bank, enhancing safety and enabling the organization to better serve families in need. X-ELIO has also launched a marketing campaign to recruit volunteers for Meals on Wheels, further supporting the local community.
About BASF
BASF Corporation, headquartered in
At BASF, we create chemistry for a sustainable future. Our ambition: We want to be the preferred chemical company to enable our customers' green transformation. We combine economic success with environmental protection and social responsibility. Around 112,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises, as core businesses, the segments Chemicals, Materials, Industrial Solutions, and Nutrition & Care; our standalone businesses are bundled in the segments Surface Technologies and Agricultural Solutions. BASF generated sales of
About X-ELIO
X-ELIO, a Brookfield-owned company, specialized in the development of renewable energy projects with a global presence in
For more information, please visit our website at www.X-ELIO.com, our LinkedIn profile at https://www.linkedin.com/company/x-elio, or our X profile at https://X.com/X_Elio.
BASF Media Contact: | X-ELIO Media Contact: | X-ELIO Media Contact: |
Molly Birman | Javier Garzón | Elizabeth |
Tel.: +1 201 602 8253 | Tel.: +34 680 692 007 | Tel.: +1 801 867 5278 |
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SOURCE X-ELIO