BASF enters »virtual« wind and solar PPAs for 250 MW in the U.S.
Post date: 07/08/2022 - 21:09
German Chemical company BASF has signed »virtual« power purchase agreements (PPAs) for 250 megawatts (MW) of wind and solar power for its sites in the United States. This is intended to offset the consumption of fossil-generated electricity that occurs at around 20 sites in various U.S. states. In this way, the company will be able to achieve its targets for the share of renewable energy »in areas where the local electric utility does not supply adequate renewable power," according to a statement. At the same time, it said, this will enable the implementation of large-scale solar and wind power projects.
The PPAs will increase the share of renewable energy in BASF’s power supply in the U.S. to »more than 25 percent,«. The company is targeting »net zero emissions« not until 2050. Agreements have been reached for 100 MW of generation capacity with Dawn Solar and 150 MW with EDF Energy Services, and are expected to enable the purchase of 660,000 megawatt hours annually.