BASF and Mingyang Form Joint Venture For Offshore Wind Farm in South China

BASF and Mingyang have agreed to jointly construct and operate an offshore wind farm in South China and have formed a joint venture named Mingyang BASF New Energy Co., Ltd.

The Chinese wind turbine manufacturer will hold 90% and BASF 10% of the shares. The wind farm in Zhanjiang Municipality of Guangdong province will have a total installed capacity of 500 megawatts.

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.

This is the first Sino-German offshore wind farm project involving development, construction, and operation. The wind farm is a key milestone in supplying BASF’s Zhanjiang Verbund site with 100% green power on start-up. BASF is dedicated to building its Verbund site in Zhanjiang as a role model for sustainable and smart production.

“BASF wants to achieve net zero carbon emissions by 2050 globally. This offshore wind farm in Zhanjiang clearly demonstrates BASF’s commitment to achieving its climate goals and is a lighthouse project on BASF’s pathway to net zero. Furthermore, the project will contribute to China’s green transformation in the chemical industry and to the country’s carbon reduction ambition,” said Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE.

In addition to contributing relevant amounts of renewable electricity for BASF’s Zhanjiang Verbund site, the project will also foster innovation. The wind power industry will benefit from safer and more cost-effective technologies by leveraging BASF’s advanced materials and Mingyang’s strong competence in renewable energy development.

“As a partner of BASF, Mingyang will provide its expertise in clean energy equipment and solutions to help create more green lighthouse projects, promote sustainable development in the chemical industry, and accelerate eco-friendly, green, and low-carbon development,” said Zhang Chuanwei, Founder and Chairman of the Board, Mingyang Group.

The Zhanjiang Verbund site will be BASF’s largest investment with up to €10 billion upon completion. It will be operated under the sole responsibility of BASF and will be the company’s third-largest Verbund site worldwide, following Ludwigshafen, Germany, and Antwerp, Belgium.