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    Germany: BASF buys green power from Danish producer for 25 years.


    November 19, 2021 - Nachrichten fuer Aussenhandel (CBNB Abstracts)

     

      The chemical company BASF has announced that it signed a 25-year electricity supply contract to buy 186 MW of the electricity to be generated by Danish power company Orsted's proposed 900 MW offshore wind farm off the North Sea in the Borkum Island from 2025. The deal is a key step for Danish company towards being able to make the final investment decision for Borkum Riffgrund 3 by end-2021. The deal is part of BASF's target of buying green electricity to decarbonize its chemical production. In the future, the company is also planning to electrically heat its steam crackers, which are at the start of the chemical utilization chain and split crude petrol into aromatics and olefins at high temperatures. BASF intends to decrease its greenhouse gas emissions by 25% by 2030 versus 2018. Original Source: Nachrichten fuer Aussenhandel, http://www.maerkte-weltweit.de.

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