BASF and Vattenfall Acquire 49% of Nordlicht Wind Farms

23.04.2024 - BASF has purchased a 49% stake in Vattenfall's Nordlicht 1 and 2 wind farms. The Nordlicht project, the largest offshore wind farm project for Vattenfall to date with a capacity of 1.6 gigawatts, is under construction in the German North Sea without state subsidies.

Vattenfall is developing the Nordlicht wind farms, with BASF owning a 49% stake. The electricity generated will supply Vattenfall’s German customers and BASF’s European chemical production sites. This is BASF’s second major partnership with Vattenfall, following their collaboration on the Hollandse Kust Zuid offshore wind farm in 2021.

Martin Brudermüller, Chairman of the Board of Executive Directors of BASF, commented, “BASF remains on track with its transformation. With the investment in Nordlicht 1 and 2, we will now have the necessary amounts of renewable energy to implement the next steps of the transformation in Europe, especially at our largest site in Ludwigshafen. Together with our long-standing partner Vattenfall, we are creating the conditions for achieving our 2030 target of reducing our scope 1 and 2 emissions by 25 percent compared to 2018.”

Anna Borg, President and CEO of Vattenfall, said, “Offshore wind energy is an essential contributor to the energy transition in Europe and is expected to replace fossil fuels on a large scale. Partnerships play a crucial role in transforming European industries, while strengthening competitiveness. We are pleased to deepen our relationship with BASF for yet another important offshore wind project – and in this way accelerate the journey to fossil freedom together.”

Nordlicht wind farm, located 85km north of Borkum, comprises two sites with a total capacity of 1.6GW. It’s expected to produce 6TWh annually, powering 1.6 million households. Construction is set to begin in 2026, with operations starting in 2028, pending a 2025 investment decision.

The parties have agreed not to disclose the financial details of the transaction.



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