BASF and Germany’s RWE have agreed that BASF Antwerpen will take over RWE's 50% share in Zandvliet Power, a joint venture with the Belgian company Electrabel that operates the CHP plant on the BASF site in Antwerp, Belgium.
The Zandvliet Power CHP plant is in operation on the BASF site since 2005. It has an electrical power generation capacity of 400 MW and the potential to supply up to 300 tonnes of steam per hour.
Following the acquisition, BASF says it will further strengthen its independence and lessen its exposure to energy market volatility.
At its Verbund site in Ludwigshafen, Germany, BASF has already invested in own local energy production plants to generate electricity and steam.
BASF says it remains committed to developing the site in Antwerp noting that a highly developed infrastructure is crucial for its future, making the location more attractive as an integrated chemical production site.
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