BASF and Brookfield have concluded a term sheet for a 25-year fixed-price renewable electricity supply agreement to purchase the solar and wind power for the BASF Zhanjiang Verbund site in China under the Renewable Energy Trading Rules in Guangdong Province.
Upon the agreement, Brookfield will develop and build dedicated new solar and wind farms as well as possible storage solutions to support the renewable energy demands of the BASF Zhanjiang Verbund site with a fixed cost mechanism for 25 years.