BASF is planning to invest in wind and solar projects to power a $4 billion petrochemical complex in Mundra, India. The German chemical giant is currently evaluating the project in collaboration with ADNOC and Adani.
The three companies plan to run the acrylics and polypropylene plants entirely on renewable energy. BASF intends to own a minority stake in wind and solar array developed for the plant. If the project materializes, it will be the world’s first CO2-neutral chemical complex to be entirely run on renewable energy.
Adani is a diversified industry group based in India. The group’s Adani Renewables unit operates wind and solar portfolio with a combined capacity of 5.3 gigawatts. BASF, ADNOC, and Adani expect to start up the plant in 2023.
