BASF Streamlines Renewable Energy Portfolio, Sells Stake in German Wind Farm
In order to coordinate the company's green electricity supply and demand, BASF is streamlining its current portfolio of renewable energy projects.
BASF has therefore decided to sell its 49% stake in the Nordlicht 1 and 2 wind farms in the German North Sea to Vattenfall. At the same time, BASF continues to work with Vattenfall to ensure a long-term supply of renewable energy for BASF's chemical production in Europe.
The transaction reflects BASF's disciplined approach to capital allocation as part of its "Winning" strategy launched in the third quarter of 2024; it resulted in a non-cash effective disposal loss of around €300 million in the BASF Group's earnings in the first quarter of 2025.
BASF will continue to work towards its CO2 reduction targets. The share of electricity from renewable sources in BASF's total electricity consumption will rise further to 26% in 2024 (2023: 20%).
The company will continue to reduce carbon emissions through power purchase agreements and direct investments.
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