Raue advised the French energy group ENGIE SA on the conclusion of a renewable energy power supply contract for the chemical group BASF. Both companies signed a corresponding Power Purchase Agreement (PPA), which is to run for 25 years.
Starting January 1, 2022, ENGIE will provide multiple European BASF sites with up to 20.7 terawatt hours of renewable electricity in total throughout the term of the agreement. The electricity to be supplied will initially come from onshore wind farms at various locations in Spain, in which ENGIE acts as equity investor or energy manager. In the further course, ENGIE will have the option to either deliver power from existing Spanish assets or from future onshore and offshore wind farms. With the agreement, ENGIE is driving forward its long-term strategy to develop renewables (see ENGIE press release). With the green electricity, BASF is further reducing its CO2 footprint towards low-emission chemical production.
Raue advised ENGIE comprehensively on the drafting and negotiation of the Power Purchase Agreement with BASF.
Advisor to ENGIE SA
Raue, Berlin: Christian von Hammerstein (Partner, Lead, Energy), Anna von Bremen (Associate Partner, Energy)