BASF and Mingyang form joint venture for offshore wind power in south China

BASF and Mingyang form joint venture for offshore wind farm in southern China.
BASF and Mingyang agreed to jointly build and operate an offshore wind farm in southern China and formed a joint venture named Mingyang BASF New Energy (Zhanjiang) Co., Ltd.
Mingyang will have 90 percent and BASF 10 percent of the shares. The wind farm in Zhanjiang Township of Guangdong Province will have a total installed capacity of 500 megawatts. Subject to construction approval by the relevant authorities, the wind farm is expected to be fully operational by 2025 and most of the power generated will be used to supply renewable electricity to the BASF Zhanjiang Verbund site.

This is the first Sino-German offshore wind farm project involving development, construction and operation. The wind farm is a key milestone in supplying BASF’s Zhanjiang Verbund site with 100% green power at commissioning. BASF is dedicated to building its Verbund factory in Zhanjiang as a role model for smart and sustainable production.

“BASF wants to achieve net zero carbon emissions by 2050 globally. This offshore wind farm in Zhanjiang clearly demonstrates BASF’s commitment to achieving its climate goals and is a flagship project on BASF’s path to net zero. In addition, the project will contribute to China’s green transformation in the chemical industry and the country’s carbon reduction ambition,” said Dr. Martin Brudermüller, Chairman of the Board of Management of BASF SE.

In addition to contributing significant amounts of renewable electricity to BASF’s Zhanjiang Verbund site, the project will also foster innovation. The wind power industry will benefit from safer and more cost-effective technologies by taking advantage of BASF’s advanced materials and Mingyang’s strong competence in renewable energy development.

“Accelerating to net zero emissions is a globally shared vision for a sustainable and livable world. Mingyang is committed to continuous technological innovation and is working with partners to promote decarbonization project initiatives. As a BASF partner, Mingyang will bring its expertise in clean energy equipment and solutions to help create more green lighthouse projects, promote sustainable development in the chemical industry, and accelerate green, green, and low-carbon development.” said Zhang Chuanwei, founder and Chairman of the Board of Mingyang Group.