{"id":863559,"date":"2025-06-25T08:24:21","date_gmt":"2025-06-25T12:24:21","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sasol-and-akuo-sign-virtual-power-purchase-agreement\/"},"modified":"2025-06-25T08:24:21","modified_gmt":"2025-06-25T12:24:21","slug":"sasol-and-akuo-sign-virtual-power-purchase-agreement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sasol-and-akuo-sign-virtual-power-purchase-agreement\/","title":{"rendered":"Sasol and Akuo Sign Virtual Power Purchase Agreement"},"content":{"rendered":"

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Sasol and Akuo Sign Virtual Power Purchase Agreement<\/b><\/p>\n

Renewable power purchases will equal approximately half of annual electricity consumption at Sasol\u2019s Lake Charles location<\/i><\/p>\n

HOUSTON–(BUSINESS WIRE<\/a>)–
\nSasol International Chemicals, a business of Sasol Ltd. (JSE: SOL, NYSE: SSL), and Akuo, a leading renewable energy producer and developer, announced the signing of a virtual power purchase agreement (VPPA), marking a significant milestone in Sasol’s commitment to reducing its greenhouse gas emissions.<\/p>\n

\nThe VPPA will deliver the equivalent of 91 megawatts, or 250,000 megawatt hours, annually of renewable energy capacity associated with the Tennyson solar farm Akuo is building in Coke County, Texas. This amount is approximately 50 percent of the annual electricity consumption at Sasol\u2019s Lake Charles Chemicals Complex. Once implemented in the second half of calendar year 2026, the 15-year agreement will reduce Sasol’s CO2<\/sub> emissions by approximately 90 thousand tons per annum (ktpa).<\/p>\n

\n“The increased use of renewable energy, through both direct and virtual renewable power purchases at our major production sites, is a key lever in operating our facilities in a less carbon-intensive manner and meeting our goal of reducing our scope 1 and scope 2 emissions by 30 percent by 2030,\u201d said Todd Hancock, Vice President of US Operations for Sasol International Chemicals.<\/p>\n

\n\u201cThrough the Tennyson photovoltaic plant, Akuo demonstrates that providing renewable energy directly to businesses seeking to lower their greenhouse gas emissions and fight climate change also contributes to long-term value creation by stabilizing their energy costs. We are proud to collaborate with partners like Sasol in supporting their environmental objectives,\u201d said Eric Scotto, Chairman and co-founder of Akuo.<\/p>\n

\nAkuo already operates two wind farms in Coke County. The new 195MW solar plant will be Akuo\u2019s first solar power plant in the United States. Its construction is expected to involve as many as 400 employees and contractors. It is scheduled to begin operations in the second half of 2026.<\/p>\n

\nDuring the last few years, Sasol International Chemicals has made significant progress on renewable electricity procurement at its manufacturing facilities globally:<\/p>\n