Chevron will build renewable plants to power selected facilities around the world, the US oil supermajor announced, in the biggest such move yet by a company that’s seen as an energy transition laggard among the world's fossil giants.
Chevron signed an agreement with US wind and solar generator Algonquin Power & Utilities to co-develop at least 500MW of renewables over the next four years.
As well as jointly owning the projects, which will be built on its own land, Chevron will sign power purchase agreements for electricity to power its facilities in the US Permian Basin, Argentina, Kazakhstan and Western Australia.
