BASF signed a letter of intent with GEDI for partnership in renewable energy and low carbon development for its Zhanjiang Verbund site
Recently, BASF signed a Letter of Intent (LOI) with China Energy Engineering Group Guangdong Electric Power Design Institute Co., Ltd. (GEDI) for partnership in renewable energy and low carbon development for its Zhanjiang Verbund site, including a 25-year renewable power purchase plan, energy planning, energy storage, carbon storage, capture and utilization, and other fields.
“This partnership will set up another important step for securing 100% renewable electricity for BASF’s Zhanjiang Verbund site by 2025. We are dedicated to building the Zhanjiang Verbund site as a role model of sustainable production and a lighthouse project for low carbon and sustainable development in the global chemical industry,” said Haryono Lim, Senior Vice President, New Verbund Site China, BASF & General Manager, BASF Integrated Site (Guangdong) Co. Ltd.
About Zhanjiang Verbund site
The Zhanjiang Verbund site will be BASF’s largest investment with up to €10 billion upon completion. It will be operated under the sole responsibility of BASF and will be the company’s third largest Verbund site worldwide, following Ludwigshafen, Germany, and Antwerp, Belgium.
About BASF in Greater China
BASF has been a committed partner to Greater China since 1885. With large production sites in Shanghai, Nanjing, Chongqing and Zhanjiang, as well as a regional research and development hub in Shanghai, BASF is a major foreign investor in the country’s chemical industry. BASF posted sales of approximately €11.6 billion in 2022 to customers in Greater China and employed 11,411 people as of the end of the year. For further information, please visit www.basf.com/cn/en.html.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €87.3 billion in 2022. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at www.basf.com.
