Inovyn, PVC-producing subsidiary of Ineos, has inked two long-term power supply deals with Norway’s Statkraft, which claims to be Europe’s largest renewables producer. From May, Inovyn will draw 100 MW of exclusively renewable energy from Statkraft for an annual renewable energy production of 876 GWh per year and an additional 30 MW (263 GWh) from 2026.
Ineos’ vinyls business Inovyn has rebranded as Ineos Inovyn with effect from Oct. 21. At the same time, Inovyn’s hydrogen business has been renamed Ineos Hydrogen.
Ineos subsidiary Inovyn is planning to build a large-scale 100-megawatt electrolyzer at its site in Cologne, Germany, to produce green hydrogen. In addition, the firm will upgrade existing hydrogen supply in Runcorn, UK. Both moves form part of Ineos’s plans announced on Oct. 18 to spend more than €2 billion on green hydrogen projects.
