BASF, Engie Sign Power Purchase Agreement for Renewable Energy in Europe
29 November 2021 - 8:56PM
Dow Jones News
By Giulia Petroni
BASF SE said Monday that it has signed a long-term power
purchase agreement for renewable energy in Europe with French
utility Engie SA.
The German chemicals company said that Engie will supply up to
20.7 terawatt hours of renewable electricity to multiple BASF's
sites over a 25-year term. The PPA is effective as of Jan. 1.
The supplied electricity will initially come from onshore wind
farms across Spain where Engie is an equity investor or energy
manager, according to BASF. Further on, the French company will
deliver power either from existing Spanish assets or future onshore
and offshore wind farms.
Financial details of the deal weren't disclosed.
Last week, BASF announced the creation of a new subsidiary for
renewable-energy activities called BASF Renewable Energy GmbH
starting January.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 29, 2021 04:41 ET (09:41 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Engie (EU:ENGI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Engie (EU:ENGI)
Historical Stock Chart
From Apr 2023 to Apr 2024
