NOVA Chemicals Announces Long-Term Virtual Power Purchase Agreement with Shell Energy for Renewable Power

Calgary, AB (March 22, 2023) – NOVA Chemicals Corporation (“NOVA Chemicals”), announced today that it has signed a long-term Virtual Power Purchase Agreement (“VPPA”) with Shell Energy North America (Canada), Inc. (“Shell Energy”) to purchase 20 MW of renewable power and associated emissions offsets beginning in spring 2023. The power will be produced by BluEarth Renewables Inc. (“BluEarth”) at its Hand Hills Wind Project near Drumheller, Alberta upon the project’s commercial operation.

As a North American leader in sustainable polyethylene production, we are focused on driving immediate and longer-term decarbonization of our assets to align with global ambitions of being net-zero by 2050,” said Rocky Vermani, NOVA Chemicals’ Senior Vice President of Supply Chain, Procurement, and Innovation. “More than ever, collaborative projects like this agreement – that span across the value chain – will be critical to achieve our environmental and sustainability goals as we work to protect health, safety, security, and the environment for ourselves and for future generations.”

BluEarth’s Hand Hills Wind Project broke ground in central Alberta in early 2022 and will feature 29 turbines across 12,000 acres of privately owned land. The 145 MW project will generate enough clean, renewable energy to power the equivalent of approximately 68,000 Alberta homes annually.

“We are grateful to Shell Energy for our continued relationship and are pleased that NOVA Chemicals will be able to benefit from the clean, renewable power produced by our Hand Hills Wind Facility,” said Grant Arnold, President & CEO of BluEarth Renewables. “Projects like Hand Hills are a great example of how renewable energy presents a cost-competitive way to generate power while helping companies reach their ESG targets.”

The agreement with Shell Energy is a key initial step in NOVA Chemicals’ decarbonization roadmap and demonstrates the company’s commitment to reducing its Scope 1 and 2 emissions by 30 per cent[i] by 2030 through initiatives like using low carbon, renewable energy to power its facilities. The roadmap is built upon the organization’s strong foundation in Responsible Care® and its historical environmental performance, including achieving a more than 30 per cent improvement in GHG emissions intensity despite a 63 per cent increase in production between 1999 and 2020.

Additional VPPAs are being explored to create and further enhance NOVA Chemicals’ renewable energy portfolio as part of its Roadmap to Sustainability Leadership.

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About NOVA Chemicals Corporation

NOVA Chemicals aspires to be the leading sustainable polyethylene producer in North America. Our driving purpose is to reshape plastics for a better, more sustainable world by delivering innovative solutions that help make everyday life healthier and safer and acting as a catalyst for a low carbon, zero-plastic-waste future. NOVA Chemicals’ innovative and quality product offerings, value chain collaboration, and unique customer experience is what sets us apart; our customers use our products to create easy-to-recycle and recycled content films, packaging, and products. Our employees work to ensure health, safety, security, and environmental stewardship through our commitment to Sustainability and Responsible Care®.

NOVA Chemicals, headquartered in Calgary, Alberta, Canada, has 2,400 employees worldwide and is wholly owned by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.

Learn more at www.novachem.com or follow us on LinkedIn.

NOVA Chemicals Media Contact
Samantha Peck
Manager, External Communications
e-mail: Samantha.Peck@novachem.com

NOVA Chemicals Investor Relations 
Patty Masry 
Leader, Financial Reporting & Investor Relations  
e-mail: Patty.Masry@novachem.com  
 

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