AlwaysFree: BASF Agrees To Purchase Power From Orsted’s Offshore Wind

German chemical maker BASF has signed a 25-year contract to purchase power from Orsted’s planned Borkum Riffgrund 3 offshore wind farm project in the German North Sea. BASF will offtake 186 MW of the project’s total capacity of 900 MW. The power purchase agreement is part of BASF to cut its CO2 emissions by 25% by 2030 from 2018 levels and eventually become a carbon-neutral company by 2050. The deal is also important for Orsted to make a final investment decision in the project. The company has secured approval from the German Federal Maritime and Hydrographic Agency (BSH).