BASF signs MoU with JS Power to develop Agrivoltaics power generation projects in Korea
- Used for the facility structure of Agrivoltaics, Boldur™ poles are sturdier and more resilient compared to conventional concrete structures
- Cooperation seeks to explore how arable farmland can be maximized for both solar power generation and agriculture production
Seoul, Korea – June 28, 2021 – BASF, together with JS Power Co., Ltd., (JS Power), a company specializing in project development of renewable energy and photovoltaic application, have entered a strategic Memorandum of Understanding (MoU) agreement to jointly promote the usage of BASF BoldurTM Poles for the facility structure of Agrivoltaics power generation projects in Korea. Agrivoltaics is where solar panels and arable farming are co-developed on the same land.
“Agrivoltaics is gaining renewed interest in South Korea due to new governmental targets to install 30.8 GW of solar by 2030 and increased desire from farmers to maximize the productivity of their agricultural land,” shares Kang Hee-Dong, CEO. “JS Power is delighted to be collaborating with BASF and working towards our common goal for a more sustainable future through more resilient infrastructure, advanced technology, and innovative chemical solutions.”
Under the agreement, both companies will cooperate in developing 100 megawatts of Agrivoltaics projects in Korea within three years and enhance the cooperation in technology, commerce, marketing, and business models. JS Power will actively promote Boldur for the design of their Agrivoltaics projects, while BASF will provide all required material solutions, coupled with full technical and commercial support.
“Our collaboration with JS Power is a furtherment of BASF’s strong commitment towards more sustainable agriculture, durable construction, effective climate protection and increment of renewable energy in the global energy mix,” said Rohit Ghosh, Head of Business Management Construction Industry, Performance Materials Asia Pacific, BASF.
Made of Elastolit® polyurethane and enabled by our unique filament winding technology, Boldur poles have a breaking strength that is ten times greater than their weight. This enables the poles to stand firm in strong winds and resist cascades while traditional concrete poles could fall like dominoes during natural disasters, causing solar panels to topple and destroy agricultural crops. In addition, they are ultra-light at approximately one-fourth the weight of concrete poles and require less manpower and lifting equipment to install.
Apart from the Agrivoltaics industry, the robust, ultra-light Boldur has been used across Asia as utility poles for power generation and telecommunications towers. For more information, please visit boldur.basf.com.
About BASF’s Performance Materials division
BASF’s Performance Materials division encompasses the entire materials’ know-how of BASF regarding innovative, customized plastics under one roof. Globally active in four major industry sectors – transportation, construction, industrial applications and consumer goods – the division has a strong portfolio of products and services combined with deep understanding of application-oriented system solutions. Key drivers of profitability and growth are our close collaboration with customers and a clear focus on solutions. Strong capabilities in R&D provide the basis to develop innovative products and applications. In 2020, the Performance Materials division achieved global sales of €5.63 bn. More information online: www.plastics.basf.com.
About BASF At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 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 is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.