BASF, RWE Cooperate for Use of Renewables in Chemical Production
May 21 2021 - 7:19AM
Dow Jones News
By Giulia Petroni
BASF SE and RWE AG on Friday said they would cooperate to
explore the use of renewable energy for the production process of
chemicals to advance the industry's transition away from fossil
fuels.
The German companies' project involves building an offshore wind
farm with a capacity of two gigawatts to provide renewable
electricity and allow the production of carbon dioxide-free
hydrogen at the Ludwigshafen chemical site in Germany.
The objective is to implement the project without subsidies by
2030, according to RWE. The utility company added that it aims to
use 20% of the green electricity from the new offshore wind farm to
produce hydrogen and build an electrolyzer with a capacity of
around 300 megawatts.
In terms of regulatory framework, the companies said there will
need to be additional tendering processes for offshore projects
before 2030 and sites specifically designated for tenders focused
on industrial transformation processes.
BASF previously said it aims to reduce its global CO2 emissions
by 25% by 2030 compared with 2018 levels, and pledged to become
climate-neutral by 2050.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
May 21, 2021 07:04 ET (11:04 GMT)
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