ENGIE’s Power Purchase Agreement For Renewable Energy in Europe With BASF

ENGIE's Power Purchase Agreement For Renewable Energy in Europe With BASF

Raue advised ENGIE SA on the deal.

ENGIE and BASF have signed a 25-year Power Purchase Agreement (PPA) for renewable energy in Europe. Under the PPA, effective as of January 1, 2022, ENGIE will provide BASF with up to 20.7 terawatt hours of renewable electricity in total throughout the term of the agreement.

Starting January 1, 2022, ENGIE will provide multiple European BASF sites with up to 20.7 terawatt hours of renewable electricity in total throughout the term of the agreement. The electricity to be supplied will initially come from onshore wind farms at various locations in Spain, in which ENGIE acts as equity investor or energy manager. In the further course, ENGIE will have the option to either deliver power from existing Spanish assets or from future onshore and offshore wind farms. With the agreement, ENGIE is driving forward its long-term strategy to develop renewables (see ENGIE press release). With the green electricity, BASF is further reducing its CO2 footprint towards low-emission chemical production.

The Raue team included Christian von Hammer­stein (Picture) and Anna von Bremen.

Involved fees earner: Anna von Bremen – RAUE LLP; Christian von Hammer­stein – RAUE LLP;

Law Firms: RAUE LLP;

Clients: ENGIE SA;

Federica Tiefenthaler

Author: Federica Tiefenthaler