German high-tech polymer materials supplier. Covestro signed a power purchase agreement with Ørsted. For 100 megawatts from a planned offshore wind farm in the. North Sea. Ørsted says the deal is the world’s largest offshore wind PPA. Headquartered in Leverkusen. Covestro is a major chemical company that employs 16,800 people globally. Their 10-year indexed fixed-price agreement with. Ørsted buys output from the Borkum. Riffgrund 3 offshore wind farm. which the companies expect to be fully commissioned in 2025. “By purchasing green electricity. we are underpinning our comprehensive sustainability strategy and.

Preparing ourselves for the expected

Rise in energy prices and CO2 costs. Said Covestro CEO Markus Steilemann. Without green electricity, the chemical industry. But also industry as a whole, cannot make its contribution to ensuring that Germany becomes largely greenhouse Indonesia Phone Number Data gas-neutral by the middle of the century. 3 will be located in the German North Sea next to the existing 312-MW 1 and 450-MW 2 offshore wind farms, and have a total capacity of 900 MW, according to Ørsted. “The wind farm will be built and operated without subsidies,” Ørsted noted.

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This is made possible by a set of cost drivers

Including the installation of next generation wind turbine technology, very good site conditions and high wind speeds, grid connection costs not being part of By purchasing green electricity, we are underpinning our comprehensive sustainability Vietnam Phone Number List strategy and. the project, plus the potential for stabilizing revenues through corporate power purchase agreements.” Borkum. Riffgrund 3 actually includes three offshore wind projects initially awarded to Ørsted through auctions Borkum Riffgrund West 1, the 240-MW Borkum Riffgrund West 2, and the  West. This year has been big for Ørsted.

German Chemical Company Signs World’s Largest Offshore Wind PPA

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