ENGIE and BASF have signed a 25-year Power Purchase Agreement for renewable energy in Europe. Under the PPA, effective as of January 1, 2022, ENGIE will provide BASF with up to 20.7 terawatt hours of renewable electricity in total throughout the term of the agreement. Multiple European BASF sites will be supplied from ENGIE’s renewable project portfolio in Europe. The electricity will initially come from onshore wind farms located in various sites throughout the Spanish territory in which ENGIE acts as equity investor or energy manager. In the further course, ENGIE will have the option to either deliver power from existing Spanish assets or from future onshore and offshore wind farms.This agreement is fully aligned with ENGIE’s long-term strategy to develop renewables and BASF’s climate protection goals. BASF aims to reduce its greenhouse gas emissions by 25% by the year 2030 compared with 2018 and to achieve net-zero emissions by 2050. From 2030 onwards, BASF wants to implement low-emission technologies, such as CO2-free methods for the production of hydrogen and electrically heated steam crackers, which will significantly increase BASF’s demand of renewable power.
ENGIE and BASF have signed a 25-year Power Purchase Agreement for renewable energy in Europe. Under the PPA, effective as of January 1, 2022, ENGIE will provide BASF with up to 20.7 terawatt hours of renewable electricity in total throughout the term of the agreement. Multiple European BASF sites will be supplied from ENGIE’s renewable project portfolio in Europe. The electricity will initially come from onshore wind farms located in various sites throughout the Spanish territory in which ENGIE acts as equity investor or energy manager. In the further course, ENGIE will have the option to either deliver power from existing Spanish assets or from future onshore and offshore wind farms.This agreement is fully aligned with ENGIE’s long-term strategy to develop renewables and BASF’s climate protection goals. BASF aims to reduce its greenhouse gas emissions by 25% by the year 2030 compared with 2018 and to achieve net-zero emissions by 2050. From 2030 onwards, BASF wants to implement low-emission technologies, such as CO2-free methods for the production of hydrogen and electrically heated steam crackers, which will significantly increase BASF’s demand of renewable power.
