# Covestro signs renewable energy PPA with CGN New Energy for Shanghai site

Covestro signed multi-year power purchase agreements with CGN New Energy to purchase approximately 300 GWh of wind and solar power annually, covering about 30% of the electricity needs of its Shanghai site. The PPA is scheduled to take effect in January 2023.

- Type: Contract
- Announced: 2022-12-13
- Where: Shanghai, China
- Status: announced
- Capacity: 300 GWh per year
- Products: renewable electricity
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Covestro](https://endata.com/companies/1705.md)
- [CGN New Energy Holding](https://endata.com/companies/13496.md) (supplier)

## Sources

- [covestro.com](https://www.covestro.com/press/covestro-signs-major-renewable-energy-supply-contracts-with-chinese-producer-cgn/), 2022-12-13: "Covestro signed various multi-year power purchase agreements with Chinese supplier CGN New Energy."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.