BASF has signed a 25-year power purchase agreement with SPIC to procure renewable energy power for its new integrated base in Zhanjiang, Guangdong province. This is a further consolidation of the renewable energy cooperation between the two sides after the signing of the framework agreement in March 2022. This cooperation
with the State Power Investment Corporation is another important milestone for BASF to further implement its Zhanjiang Integrated Base to achieve 100% renewable energy power supply by 2025. It is also another successful example of Sino-German cooperation in low-carbon projects after the signing of a letter of intent between BASF and the National Development and Reform Commission of China in June 2023. Since 2025, when the steam cracking unit and its core of BASF Zhanjiang Integrated Base are put into operation, the State Power Investment Corporation will supply 1 billion kilowatt-hours of renewable energy to BASF Zhanjiang Integrated Base every year. The power mainly comes from Guangdong's dedicated offshore wind and solar energy.
Zhanjiang Integration Base Project is BASF's largest single investment project so far, with a total investment of 10 billion euros, and will be independently constructed and operated by BASF. After completion, the base will become BASF's third largest production base in the world, after Ludwigshafen base in Germany and Antwerp base in Belgium.
Previously, on March 22, 2022, BASF and the State Power Investment Corporation signed a 25-year renewable energy cooperation framework agreement in accordance with the Guangdong Renewable Energy Trading Rules to purchase renewable energy power for the follow-up units of its new integrated base in Zhanjiang City, Guangdong Province.
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