Wind Energy – Germany
Vattenfall and BASF are in advanced and exclusive discussions to partner on the Nordlicht 1 and 2 projects through a sale of 49 percent of the project shares to BASF.
Both parties signed a Memorandum of Understanding to formally express their joint ambition. Vattenfall will use its share of the fossil free electricity to supply its German customers.
BASF will receive almost half of the produced electricity and supply its chemical production sites across Europe, in particular Ludwigshafen.
The Nordlicht wind park zone is located 85 kilometers north of the island of Borkum in the German North Sea and consists of two separate sites: Nordlicht 1 with a capacity of 980 megawatts and Nordlicht 2 with 630 megawatts.
Vattenfall develops and constructs the Nordlicht sites. Once fully operational, their combined production is expected to be around 6 terawatt hours (TWh) per year, equal to the electricity consumption of 1.6 million German households.
Signing of the transaction is expected in the first half of 2024.
It is the second time BASF plans to acquire a stake in one of Vattenfall’s offshore wind farms. In 2021, BASF bought a share of the recently inaugurated Hollandse Kust Zuid wind farm in The Netherlands.
