Chemicals giant BASF signed what is said to be the longest corporate power purchase agreement (PPA) ever seen in offshore wind in a deal that further underpins the commercial viability of a 900MW project Orsted will build in the German North Sea without any subsidies.
BASF will take output from 186MW of Borkum Riffgrund 3 under a 25-year fixed-price PPA that the Danish developer said is a record offtake term by a corporate in the sector.
