BASF, Brookfield partner for a 25-year renewable electricity supply deal

It will power BASF’s Zhanjiang Verbund site in China.  

BASF and Brookfield have signed a 25-year fixed-price renewable electricity supply agreement to purchase solar and wind power for BASF’s Zhanjiang Verbund site in China.

“This agreement with Brookfield is another important step in securing renewable energy for BASF’s new Verbund site in Zhanjiang,” Haryono Lim, Senior Vice President, New Verbund Site China, BASF & General Manager, BASF Integrated Site (Guangdong) Co. Ltd, said.

“BASF is dedicated to building its Zhanjiang Verbund site into a role model of sustainable production, and aims to already achieve 100% renewable electricity supply for its Zhanjiang Verbund site by 2025.”

This also forms part of BASF’s climate neutrality target, which is also seen to contribute to China’s carbon reduction goal.

Under the agreement, Brookfield is expected to develop and build dedicated new solar and wind farms. It will also provide storage solutions to support the site’s renewable energy demands.

The BASF Zhanjiang Verbund site will be the company’s largest investment with €8 to €10b, upon completion. It is also the third-largest BASF site across the globe, after Ludwigshafen, Germany, and Antwerp, Belgium.