BASF India : signed a 25-year agreement with GEDI to purchase renewable electricity for its Zhanjiang Verbund site

BASF India, a subsidiary of the German chemical conglomerate BASF SE, has entered into a significant long-term agreement with Guangdong Energy Development International Company Limited (GEDI) to procure renewable electricity for its Zhanjiang Verbund site in China. This deal marks an essential milestone in BASF's efforts to ensure a 100% renewable electricity supply for the Zhanjiang production complex, further solidifying its commitment to sustainable development.

The Zhanjiang Verbund site, located in the southern Chinese province of Guangdong, is a crucial production hub for BASF, specializing in the production of chemicals, performance products, and functional materials. With this new agreement, BASF aims to reduce the carbon footprint of its operations at the site, contributing to the global transition towards more sustainable energy sources and reducing greenhouse gas emissions.

GEDI, a leading Chinese energy company, will provide BASF India with renewable electricity from wind and solar power sources over a period of 25 years. This collaboration is expected to help both companies strengthen their positions in the growing renewable energy market and promote sustainable business practices in China.

BASF's decision to invest in renewable energy at the Zhanjiang Verbund site is part of the company's broader strategy to reduce its carbon footprint and contribute to the global fight against climate change. In line with this commitment, BASF has set ambitious targets to reduce greenhouse gas emissions by 30% by 2030 compared to 2006 levels and achieve carbon neutrality by 2050.

The agreement between BASF India and GEDI is an essential step towards making the Zhanjiang Verbund site a lighthouse project of sustainable development in China. This collaboration is expected to inspire other companies in the region and beyond to follow suit and adopt more sustainable energy sources in their operations, ultimately contributing to a greener and more sustainable future for industries worldwide.

In conclusion, BASF India's signing of a 25-year agreement with GEDI to procure renewable electricity for its Zhanjiang Verbund site is a significant step towards the company's goal of achieving carbon neutrality and reducing its environmental impact. This collaboration between BASF and GEDI is expected to promote sustainable business practices and contribute to the growing renewable energy market in China and beyond.