Nordlicht is already Vattenfall’s second major offshore wind project in which BASF is participating as a partner. In 2021, BASF acquired almost half of the shares in the Hollandse Kust Zuid offshore wind farm in the Dutch North Sea.

Martin Brudermüller, Chairman of the Board of Executive Directors of BASF: “BASF remains on track with its transformation. With the investment in Nordlicht 1 and 2, we will now have the necessary amounts of renewable energy to implement the next steps of the transformation in Europe, especially at our largest site in Ludwigshafen. Together with our long-standing partner Vattenfall, we are creating the conditions for achieving our 2030 target of reducing our scope 1 and 2 emissions by 25 percent compared to 2018.”

Anna Borg, President and CEO of Vattenfall, said: “Offshore wind energy is an essential contributor to the energy transition in Europe and is expected to replace fossil fuels on a large scale. Partnerships play a crucial role in transforming European industries, while strengthening competitiveness. We are pleased to deepen our relationship with BASF for yet another important offshore wind project – and in this way accelerate the journey to fossil freedom together.”

The Nordlicht wind farm area is located 85 kilometres north of the island of Borkum in the German North Sea and consists of two separate sites: Nordlicht 1 with a capacity of around 980 megawatts and Nordlicht 2 with around 630 megawatts. Once fully operational, electricity production is expected to total around 6 terawatt hours (TWh) per year, which is equivalent to the electricity consumption of 1.6 million German households. Subject to the final investment decision, which is expected in 2025, construction of Nordlicht 1 and 2 is expected to begin in 2026. The wind farms are expected to be fully operational in 2028.

The parties have agreed not to disclose the financial details of the transaction.