German chemicals firm BASF has struck a deal with Swedish utility Vattenfall to buy 49% of Nordlicht offshore wind farm project in Germany.
The Nordlicht wind park zone is located 85 km north of the island of Borkum in the German North Sea and consists of two separate sites: Nordlicht 1 with a capacity of 980 MW and Nordlicht 2 with 630 MW. Once fully operational, their combined production is expected to be around 6TWh per year, equal to the electricity consumption of 1.6M German households.
The signing of the transaction is expected in the first half of 2024. Pending a final investment decision, which is expected in 2025, construction of Nordlicht 1 and 2 will start in 2026, with full commissioning in 2028.
BASF will receive almost half of the produced electricity and supply its chemical production sites across Europe, in particular Ludwigshafen.
It is the second time BASF bought into one of Vattenfall’s offshore wind farms. In 2021, the company acquired a share of the recently inaugurated 1.5 GW Hollandse Kust Zuid wind farm in The Netherlands.
