Covestro signed several multi-year power purchase agreements (PPA) with CGN New Energy, including one that will cover around 30 percent of the electricity needs of its production site in Shanghai.
The Covestro Integrated Site Shanghai is already partly supplied by renewable energy. Under the PPA, the Shanghai site will purchase approximately 300 gigawatt hours of green power annually from CGN’s wind and solar farms in the town of Lenghu in northwest China’s Qinghai province. The PPA is scheduled to take effect in January 2023.
Meanwhile, Covestro’s Guangzhou and Foshan sites in south China will be powered with 100 percent renewable electricity. Starting next year, both sites will be using power generated from CGN’s offshore wind farms in Guangdong province.