BASF Signs Agreements to Secure Clean Energy Supply

BASF is working on renewable energy solutions to power its facilities in the United States and has signed virtual power purchase agreements (VPPAs) totaling 250 megawatts (MW) for wind and solar energy. These are designed to offset carbon-intensive, grid-sourced electricity used across more than 20 BASF production facilities in various states across the country, from Texas to Michigan. Michael Heinz, Member of the Board of Executive Directors of BASF SE and President and CEO of BASF Corporation, said, "Renewable energy is an important tool for BASF to achieve our net-zero emissions target by 2050" and added, "We are committed to further improving our energy footprint in the region and are willing to lead the energy transition for chemical production in North America." The agreements for the production of 250 MW of renewable generation capacity will result in the purchase of more than 660,000 megawatt-hours (MWh) of electricity per year. This is equivalent to the electricity consumed by more than 90,000 average U.S. households. Based on EPA estimates, the VPPAs will offset more than 472,500 metric tons of CO2 emissions per year. When these agreements take effect, the share of renewable energy in BASF's total North America electricity consumption will rise above 25%. Tobias Dratt, President of BASF North America, said, "These agreements help us achieve our clean energy targets in areas where the local utility does not provide sufficient renewable energy" and "At the same time, our financial commitment enables the implementation of major solar and wind energy projects and brings clean energy to the grid." BASF aims to reduce greenhouse gas emissions by 25% by 2030 compared to 2018 and achieve net-zero emissions by 2050.   Source