BASF is looking to invest in a wind and solar project to feed what’s billed as the world’s first all-renewable-powered petrochemical plant.
The German giant is evaluating the $4bn chemicals complex in Mundra, India, in collaboration with local conglomerate Adani and Abu Dhabi’s state oil group ADNOC.
The partners are looking to power the acrylics and polypropylene plant with 100% renewable energy, with BASF considering taking a minority stake in a wind and solar array developed for the purpose.
“Plans are at an advanced stage of development,” said a statement.
“If realised, this would be the world’s first CO2-neutral petrochemical site to be fully powered by renewable energy.”
Adani is a diversified Indian industrial group with an existing 5.3GW wind and solar portfolio, either operating or in development, via its Adani Renewables unit.
The partners hope to begin production at the chemical plant in Mundra Port in 2024.
Along with other heavy energy users such as steel and paper, the chemicals sector is seen as one of the biggest challenges for decarbonisation.
The head of Europe’s chemicals industry body CEFIC warned recently that the renewable energy sector is “not ambitious enough” in gearing up to deliver the massive amounts of power necessary.
A 2017 study released by CEFIC estimated that up to 4,900TWh of zero-carbon power would be needed for net-neutral European chemical production by 2050, more than double IEA projections of the entire available supply by then.