Phillips 66 teams with NextEra Energy Resources to power Rodeo Renewable Energy Complex with solar facility

HOUSTON--(BUSINESS WIRE)-- Phillips 66 is teaming up with a subsidiary of NextEra Energy Resources, LLC to power Phillips 66’s Rodeo Renewable Energy Complex with a 30.2 megawatt (MW) solar facility.

The solar facility will reduce the complex’s grid power demand by 50% and is expected to avoid approximately 33,000 metric tons a year of carbon dioxide emissions beginning in the first quarter of 2025.* The project is one of the largest on-site dedicated solar facilities in the U.S.

“We are excited to collaborate with NextEra Energy Resources on a project that aligns with our mission of providing energy and improving lives,” said Zhanna Golodryga, executive vice president of Emerging Energy and Sustainability for Phillips 66. “This solar facility not only underscores our commitment to advancing a lower-carbon future but also enhances our energy infrastructure.”

The solar facility, owned and operated by NextEra Energy Resources, will be situated on approximately 88 acres of land owned by Phillips 66. The facility is adjacent to the Rodeo Renewable Energy Complex and will consist of more than 70,000 solar modules that will support the renewable fuels complex. The solar facility is designed to generate approximately 60,000 MWh/year of electricity, equivalent to the electricity required to power more than 23,000 electric vehicles per year.

“We are thrilled to collaborate with Phillips 66 on the Rodeo solar facility, which exemplifies our commitment to developing custom solutions to meet our customers’ growing energy needs at the speed they require,” said Rebecca Kujawa, president & CEO of NextEra Energy Resources. “This project will not only benefit Phillips 66’s operations and the customers who rely on its renewable fuels but also demonstrates how renewable energy can integrate seamlessly into industrial operations.”

The solar facility will not use water to generate electricity. The joint project has created approximately 130 construction jobs, which were filled by local union labor.

Located in the San Francisco Bay Area, the Rodeo Renewable Energy Complex produces renewable fuels such as renewable diesel and sustainable aviation fuel. The facility uses lower-carbon intensity feedstocks, including used cooking oil, fats, greases and vegetable oil. Its geographic location, unique processing infrastructure and flexible transportation logistics make it a world-class supplier of renewable fuels, which have lower life-cycle carbon emissions than conventional fuels.

Phillips 66 announced the Rodeo Renewed project in 2020, making a final investment decision to move forward on it in 2022. The complex began processing only renewable feedstocks in March, achieving full processing capacity of 50,000 barrels per day (BPD) of renewable feedstock in June.

*Calculation is based on the EPA’s AVoided Emissions and geneRation Tool (AVERT).

About Phillips 66

Phillips 66 (NYSE: PSX) is a leading integrated downstream energy provider that manufactures, transports and markets products that drive the global economy. The company’s portfolio includes Midstream, Chemicals, Refining, Marketing and Specialties, and Renewable Fuels businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn.

About NextEra Energy Resources

NextEra Energy Resources, LLC (together with its affiliated entities, “NextEra Energy Resources”) is a clean energy leader and is one of the largest wholesale generators of electric power in the U.S., with approximately 30,600 megawatts of total net generating capacity, primarily in 41 states and Canada as of year-end 2023. NextEra Energy Resources is the world’s largest generator of renewable energy from the wind and sun, and a world leader in battery storage. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire and Wisconsin as part of the NextEra Energy nuclear fleet. NextEra Energy Resources offers a wide range of clean energy solutions to help businesses and customers across the country meet their emissions reduction goals. NextEra Energy Resources, LLC is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit: www.NextEraEnergyResources.com.

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Jeff Dietert (investors)

832-765-2297

jeff.dietert@p66.com

Owen Simpson (investors)

832-765-2297

owen.simpson@p66.com

Thaddeus Herrick (media)

855-841-2368

thaddeus.f.herrick@p66.com

Source: Phillips 66