RWE and Covestro Conclude Long-Term Power Purchase Agreement
Covestro and RWE have signed a long-term power purchase agreement (PPA) for the supply of power and guarantees of origin from offshore wind turbines in the North Sea for the Covestro production site in Antwerp, Belgium. The contract runs from 2026 to 2030 and will enable Covestro to increase the share of renewable energy from the current 45 percent to 60 percent of the site's current power needs and secure the supply of green energy until 2030, saving 103,000 tons of CO2.
"The new contract shows: We are making consistent progress on our path to climate-neutral production - even in economically challenging times," says Dr. Thorsten Dreier, Chief Technology Officer at Covestro. "Because we are convinced that our vision of a complete focus on the circular economy and climate neutrality is the only way to ensure the long-term success of our company."