BASF: new renewable energy division

(CercleFinance.com) - BASF announced on Thursday that it will bring all of its renewable energy activities under a single entity called
BASF Renewable Energy, a decision that will officially take effect at the beginning of next year.


The German chemicals group says the new division will be responsible for supplying green energy to its production sites in Europe, either through its own projects or through power purchase agreements (PPA).

Amongst its projects, BASF mentions a wind farm being developed off the coast of the Netherlands with Sweden's Vattenfall, as well as a wind farm project in the German North Sea with RWE.

In addition, the company recently entered into a long-term PPA agreement with Denmark's Orsted for the purchase of electricity from offshore wind power.



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