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BASF and Mingyang have agreed to jointly construct and operate an offshore wind farm in South China and have therefore formed a joint venture named Mingyang BASF New Energy (Zhanjiang) Co., Ltd.
Mingyang will hold 90 percent and BASF 10 percent of the shares. The wind farm in Zhanjiang Municipality of Guangdong province will have a total installed capacity of 500MW. Subject to construction approval from the relevant authorities, the wind farm is expected to be fully operational in 2025 and the majority of the power generated will be used to supply renewable electricity to BASF Zhanjiang Verbund site.