Replacing Fossil-Based Electricity with Renewable Electricity

  • Author: ChemistryViews
  • Published: 01 December 2021
  • Copyright: Wiley-VCH GmbH
thumbnail image: Replacing Fossil-Based Electricity with Renewable Electricity

ENGIE and BASF have signed a 25-year Power Purchase Agreement (PPA) for renewable energy in Europe, effective January 1, 2022. ENGIE will supply BASF with a total of up to 20.7 terawatt-hours of electricity from renewable sources during the term of the agreement. Several BASF sites in Europe will be supplied.

The electricity will initially come from onshore wind farms located at various sites in Spain in which ENGIE is involved as an investor or energy manager. Down the road, ENGIE will have the option to supply power either from existing Spanish facilities or from future onshore and offshore wind farms.

BloombergNEF, the reference for strategic analysis in the field of energy transition, ranks ENGIE in the first position in terms of signed corporate PPAs. At the end of September, ENGIE has signed new corporate power purchase agreements totaling 1.9 gigawatts year-to-date (up from 1.5 gigawatts for the full year 2020) to provide major industrial and tech companies with renewable power


 

 



 

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