Acquisition, Trade and Expertise –
Renewable Energy for BASF
BASF Renewable Energy GmbH is responsible for the entire portfolio of renewable power at BASF. That means we make sure the demand of electricity at every BASF location all over Europe is met at all times – and that the energy will be obtained from renewable sources. We represent the procurement and trading of Renewable Energy and set the pace and create new ideas for BASF on its way to net zero emissions. That implies building and expanding our own renewable power assets (“make”) and overseeing the acquisition of Renewable Energy with long-term supply agreements (“buy”).
The energy concept at BASF
BASF Renewable Energy GmbH does not only guarantee location-wide supply of energy from renewable sources, but also handles the centralized distribution of energy, the balance and the optimization of the BASF power supply all across Europe. BASF Renewable Energy GmbH has access to European power markets. This approach results in automized energy trade and a compensation of electricity according to demand.
BASF climate goals
BASF aims to be climate neutral in 2050. An ambitious goal. Until 2030 we already want to reduce carbon dioxide emission by 25% compared to 2018. That means our demand for Renewable Energy will skyrocket in the years to come. To ensure a reliable supply of energy for our European locations we will need approximately 25 terawatt hours of additional energy from renewable sources by 2040. BASF will meet these needs by expanding production capacity (“make”) and diversifying the acquisition portfolio (“buy”). The emission targets have been presented in detail during the BASF Capital Markets Day.