By Cecilia Butini

German chemicals group Covestro AG said Wednesday that it has entered into a power purchase agreement with French utility company Engie SA for renewable energy at its operations in Belgium.

Engie will supply around 45% of the electricity demand of Covestro in Antwerp from 15 wind turbines.

The agreement --the financial details of which weren't disclosed-- covers a capacity of 39 megawatts and is set to reduce Covestro's carbon footprint in Belgium by more than 38,500 metric tons, the company said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

March 24, 2021 08:20 ET (12:20 GMT)

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