BASF and Brookfield have finalized a term sheet for a 25-year renewable electricity supply agreement to purchase solar and wind power for the BASF Zhanjiang Verbund site in China. Under the fixed-price agreement, Brookfield will develop and build dedicated solar and wind farms, as well as possible storage solutions to support the renewable energy demands of BASF’s site. This agreement with Brookfield is another important step in securing renewable energy for BASF’s new Verbund site in Zhanjiang. BASF is dedicated to building its Zhanjiang Verbund site into a new role model of sustainable production, and aims to already achieve 100% renewable electricity supply for its Zhanjiang Verbund site by 2025. The site in Zhanjiang will produce thermoplastic polyurethanes and 60 kta of engineering plastics to serve various growth industries in the South China market, and throughout Asia. The first plant from the initial phase will be operational by 2022.