Belgian multi-specialty chemical company Solvay has agreed to acquire renewable energy certificates (REC) from the 71.4MW solarpower farm in South Carolina (SC), US.
To be completed by the end of this year, the new ‘Solvay Solar Energy-Jasper County, SC’ solar farm will be nearly seven times the size of the second largest project currently in operation in the US state.
RECs are issued when 1MWh of power is generated and supplied to the grid from a renewable energy facility. Under the terms of the new agreement signed with Moffett Solar 1, Solvay will purchase all the RECs for 15 years.
With the acquisition, the company will be able to reduce the carbon intensity of its operations by 40% by 2025.
Solvay's chief executive officer Jean-Pierre Clamadieu said: “This new agreement will help us reduce our CO² intensity, one of Solvay’s main sustainability goals.
“It enables development of additional renewable energy capacity in a region where we have a significant presence and allows us to better serve key customer expectations through sustainability.”
Image: Solar panels. Photo: courtesy of Solvay.