BASF signs 25-year offshore wind power purchase agreement in Germany

BASF and Ørsted have concluded a 25-year fixed-price corporate power purchase agreement (CPPA), under which BASF will offtake the output of 186 megawatts from Ørsted’s planned Borkum Riffgrund 3 Offshore Wind Farm in the German North Sea.

The offshore wind farm will have a total installed capacity of 900 megawatts and go into full commercial operation in 2025. Ørsted has recently secured planning approval from the German Federal Maritime and Hydrographic Agency (BSH). With this CPPA as a tangible first step, the two companies will look into where the interests of both companies can match in the future to support emission reductions in the chemical industry. The power purchase agreement will help cover the increased electricity needs of low-emission technologies... ... More: Official Press Release BASF

Keywords:

Ørsted, BASF, offshore, wind farm, Germany, North Sea, capacity, Borkum Riffgrund 3, CPPA, chemical industry, plan, BSH, installation