BASF and Vattenfall acquire 49% stake in Nordlicht wind farm

BASF acquires a 49% stake in the Vattenfall's Nordlicht 1 and 2 wind farms. The Nordlicht project is Vattenfall's largest offshore wind farm project to date, with an installed capacity of 1.6 GW, and is being constructed in the German North Sea without state subsidies.

Vattenfall is developing the Nordlicht wind farm, in which BASF owns a 49% stake. The electricity generated will power Vattenfall's German customers and BASF's European chemicals production sites. This is BASF’s second major collaboration with Vattenfall, following the collaboration at the Hollandse Kust Zuid offshore wind farm in 2021.

Martin Brudermuller, Chairman of the Executive Board of BASF, commented: "BASF is still in transition. With the investment in Nordlicht 1 and 2, we will now have the necessary amounts of renewable energy to implement the next steps in Europe’s transformation, especially at our largest plant in Ludwigshafen. Together with our long-term partner Vattenfall, we are creating the conditions to achieve the 2030 target of a 25% reduction in scope 1 and 2 emissions compared to 2018."

Vattenfall President and CEO Anna Borg said:"offshore wind is an important contributor to Europe's energy transition and has the potential to replace fossil fuels on a large scale. Partnerships play a vital role in transforming European industry and increasing competitiveness. We are pleased to deepen our partnership with BASF on another important offshore wind project, thereby jointly accelerating progress towards becoming fossil fuel-free."

The Nordlicht wind farm is located 85 kilometers north of Borkum and consists of two sites with a total capacity of 1.6GW. It is expected to generate 6 terawatt hours of electricity annually, powering 1.6 million homes. Construction is scheduled to begin in 2026 and operations in 2028, pending an investment decision in 2025. The parties agreed not to disclose financial details of the deal.