Ørsted and BASF Sign Offshore Wind Power Purchase Agreement
BERLIN — BASF and Ørsted recently announced that the two companies have concluded a 25-year fixed-price corporate power purchase agreement (CPPA), under which BASF will offtake the output of 186 megawatts from Ørsted’s planned Borkum Riffgrund 3 Offshore Wind Farm in the German North Sea.
The offshore wind farm will have a total installed capacity of 900 megawatts and go into full commercial operation in 2025. Ørsted has recently secured planning approval from the German Federal Maritime and Hydrographic Agency (BSH).