BASF and Mingyang, a Chinese wind turbine manufacturer, have agreed to jointly construct and operate an offshore wind farm in South China in a joint venture named Mingyang BASF New Energy (Zhanjiang) Co., Ltd. Mingyang will hold 90 percent of the shares, and BASF will hold 10 percent.
Most of the power generated by the wind farm will reportedly be used to supply renewable electricity to the BASF Zhanjiang Verbund site. BASF says it is expected to be fully operational in 2025.
In other BASF news, the company and Zhejiang Guanghua Technology Co., Ltd. (KHUA) signed a letter of intent for the supply of neopentyl glycol (NPG) from BASF’s Zhanjiang Verbund site to KHUA, a manufacturer of saturated polyester resins for the powder coatings industry in China. KHUA is planning to build a production plant for powder coatings resins in Donghai Island, Zhanjiang, China.