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Vattenfall and BASF have agreed to the sale of 49% of Vattenfalls Nordlicht 1 and 2 wind farms to BASF. Nordlicht marks Vattenfalls second offshore wind project involving BASF as a partner.
In 2021, BASF acquired nearly half of the shares in the Hollandse Kust Zuid offshore wind farm in the Dutch North Sea. The Nordlicht project, situated in the German North Sea, is being developed without state subsidies and will have a total installed capacity of 1.6GW. Vattenfall is tasked with the development and construction of the Nordlicht sites and plans to utilise its share of future electricity generation to serve customers in Germany. BASF, on the other hand, intends to use its share to power its chemical production sites in Europe, particularly in Ludwigshafen, Germany. The Nordlicht wind farm area lies 85 kilometres north of the island of Borkum in the German North Sea and comprises two separate sites: Nordlicht 1 with a capacity of around 980MW and Nordlicht 2 with around 630MW. Pending the final investment decision, anticipated in 2025, construction of Nordlicht 1 and 2 is scheduled to commence in 2026, with full operational status expected by 2028. The financial terms of the transaction have not been disclosed by the parties. |
