BASF inks 25-year deal with Engie for renewable electricity at European sites
MADRID (ICIS)–BASF has signed a 25-year power purchase agreement (PPA) with French utility major Engie for supply of renewable energy at the German chemicals major’s sites in Europe, it said on Monday.
Under the PPA, effective 1 January 2022, Engie is to provide BASF with up to 20.7TWh of renewable electricity throughout the term of the agreement.
Financial details were not disclosed.
“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,” said BASF.
“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.”