- BASF signed a 15-year agreement with BP Energy Retail for Renewable Energy Certificates.
- The agreement covers 47 MW of wind energy from Swift Current Energy's Castle Gap project.
- The energy offsets over 98,000 metric tons of CO2 annually, equivalent to 147,000 MWh.
- BASF aims to reduce greenhouse gas emissions by 25% by 2030 and achieve net-zero by 2050.
Agreement Details
BASF has entered into a 15-year agreement with BP Energy Retail Company to acquire Renewable Energy Certificates (RECs). These certificates are linked to 47 megawatts (MW) of annual capacity from Swift Current Energy’s Castle Gap Wind project in Central Texas.
Impact on Emissions
The energy output from the 47 MW capacity is expected to offset more than 98,000 metric tons of CO2 equivalent annually. This translates to over 147,000 megawatt hours (MWh) of electricity per year, comparable to the electricity consumption of more than 20,500 U.S. households, according to EPA estimates.
Sustainability Goals
This agreement is a strategic move for BASF to reduce its Scope 2 emissions and aligns with its broader climate protection goals. BASF aims to cut its greenhouse gas emissions by 25% by 2030 compared to 2018 levels and aspires to achieve net-zero emissions by 2050.
Partnership with Swift Current Energy
The contract involves Swift Current Energy’s Castle Gap Wind project, a 197 MW energy facility in Central Texas. Swift Current Energy's CEO, Eric Lammers, expressed satisfaction in adding BASF as a long-term partner, highlighting the project's role in providing reliable energy to the Texas grid since its energization in 2023.
