BASF advances renewable energy commitment with wind and solar power contracts
- Wall Street heads for subdued start as Netflix, oil drop
- Netflix (NFLX) Plunges Following Q1 Sub Miss, But One Analyst Sees Chance to Turn Bullish
- Oil prices drop as India's COVID-19 surge dents demand outlook
- Dollar firm as COVID-19 resurgence hits reflation trades
- Manchester United (MANU) Stock Falls as European Super League Collapses Amid Huge Fans Backlash
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
- Wind power agreement at two Texas sites will add 35 MW to BASF’s renewable energy supply; solar power at 55MW is the ‘cherry on top’
- Up to 90% of the sites’ purchased power from wind and solar farms
FREEPORT, Texas, Feb. 11, 2021 (GLOBE NEWSWIRE) -- BASF is collaborating with EDF Energy North America to improve the energy balance and reduce CO2 emissions of two of its production sites in Texas. The companies have signed a 35 MW Wind Power Purchase Agreement (PPA) that will bring 25 MW wind power to BASF’s Verbund site in Freeport and 10 MW wind power to the Pasadena site. The agreement adds to another recently announced PPA that will supply the Freeport site with 55 MW power from EDF Renewables’ Space City Solar project.
“The agreements underline BASF’s commitment to sustainability. Manufacturing products for sustainable solutions, reducing emissions from our processes and using non-fossil fueled energy sources – all of these efforts help lead us on our continuing journey of sustainability,” said Chris Witte, Senior Vice President and General Manager for the BASF site in Freeport. “The addition of renewable energy to our Texas sites will ultimately benefit all three areas: sustainable products, processes and power.”
The projects will significantly improve the energy balance of both BASF sites and further complement the company’s overall sustainability goals. Approximately 70% of the energy supply to the Pasadena site and more than 90% of the power purchased in addition to the energy produced at Freeport site will be supplied from renewable resources. This equals the energy consumption of more than 10,500 households.
The addition of wind and solar power to BASF’s energy portfolio further enhances the company’s advancement toward its climate protection goal of CO2 neutral growth until 2030. As part of its ambitious Carbon Management program, BASF is gradually replacing fossil fuels with renewable energy sources. At the same time, the partnership ensures the reliability of the BASF assets and increases efficiency and competitiveness at both sites.
EDF Energy North America is an industry leader in renewable energy solutions. The wind farm selected to supply BASF is located in Crocket County, Texas. The planned start date for providing the BASF sites wind power is June 2021. EDF Renewable’s Space City Solar in Wharton, Texas, is expected to begin construction in Summer 2021 and renewable energy supply will start mid-2022.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 18,800 employees in North America and had sales of $18.4 billion in 2019. For more information about BASF’s North American operations, visit www.basf.com/us.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 117,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2019. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.
Media Relations contact Cindy Suggs Massoletti +1 979 230-8609 email@example.com
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Form 8.3 - Aggreko Plc (Amended)
- Gisele Bündchen Joins DraftKings as Special Advisor to the CEO and Board for ESG Initiatives
- Verde Bio Holdings, Inc. Announces Acquisition of Permian Basin Mineral and Royalty Interest