Berlin— BASF and Orsted have finalized a 25-year fixed-price power purchase agreement (PPA), under which BASF will offtake 186 megawatts from Orsted's planned Borkum Riffgrund 3 Offshore Wind Farm in Germany's North Sea. The PPA will help cover the increased electricity needs of low-emission technologies for BASF and is a step towards BASF's goal of becoming carbon neutral by 2050. A final investment decision on the wind farm is expected by the end of this year.
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