In a groundbreaking partnership, global chemical giant BASF and China's renewable energy leader Mingyang Group have joined forces to establish a joint venture focused on developing an offshore wind farm in southern China. Named “Mingyang BASF New Energy (Zhanjiang) Co., Ltd.,” the venture aims to construct and operate a cutting-edge wind farm with an impressive total installed capacity of 500 megawatts (MW) in Zhanjiang Township, Guangdong Province.
With Mingyang holding a majority stake of 90 percent and BASF owning 10 percent of the shares, this marks the first-ever Sino-German collaboration involving the complete lifecycle of an offshore wind farm, from development and construction to operational management. This visionary project represents a significant milestone towards achieving BASF's ambitious goal of net zero carbon emissions by 2050 on a global scale.
The Zhanjiang wind farm will play a pivotal role in powering BASF's Zhanjiang Verbund site with 100% green electricity once it becomes fully operational by 2025, subject to approval from relevant authorities. Emphasizing its commitment to becoming a role model for smart and sustainable production, BASF is dedicated to ensuring that the facility in Zhanjiang is environmentally responsible.
Dr. Martin Brudermüller, Chairman of the Board of Management of BASF SE, expressed his enthusiasm for the project, stating, “This offshore wind farm in Zhanjiang clearly demonstrates BASF's commitment to achieving its climate goals and is a flagship project on BASF's path to net zero. In addition, the project will contribute to China's green transformation in the chemical industry and the country's carbon reduction ambition.”
Apart from significantly contributing renewable electricity to BASF's Zhanjiang Verbund site, the joint venture will also drive innovation within the wind power industry. By leveraging BASF's expertise in advanced materials and Mingyang's proficiency in renewable energy development, the project aims to foster the creation of safer and more cost-effective technologies.
Zhang Chuanwei, founder and Chairman of the Board of Mingyang Group, emphasized the broader impact of the venture, stating, “Accelerating to net zero emissions is a globally shared vision for a sustainable and livable world. Mingyang is committed to continuous technological innovation and is working with partners to promote decarbonization project initiatives. As a BASF partner, Mingyang will bring its expertise in clean energy equipment and solutions to help create more green lighthouse projects, promote sustainable development in the chemical industry, and accelerate green, green, and low-carbon development.”
With this landmark collaboration, BASF and Mingyang are set to make significant strides in advancing renewable energy adoption in the region, while simultaneously setting an example for sustainable production practices in the chemical industry. The joint venture's pioneering efforts promise to reshape the energy landscape in southern China and contribute to a greener, more environmentally conscious future.
