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BASF plans to acquire stake in Vattenfall wind farm

The chemical giant BASF is securing green electricity from the North Sea. The company is in advanced talks with the Swedish energy group Vattenfall for its Nordlicht 1 and 2 wind farm projects, the companies announced on Tuesday. The agreed partnership provides for BASF to purchase 49 percent...

,   and  ZEITUNG «AUSSIEDLERBOTE»
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Wind turbines in the water. Photo.aussiedlerbote.de
Wind turbines in the water. Photo.aussiedlerbote.de

Energy - BASF plans to acquire stake in Vattenfall wind farm

The chemical giant BASF is securing green electricity from the North Sea. The company is in advanced talks with the Swedish energy group Vattenfall for its Nordlicht 1 and 2 wind farm projects, the companies announced on Tuesday. The agreed partnership provides for BASF to purchase 49 percent of the project shares from Vattenfall. The DAX-listed company intends to supply its Ludwigshafen site in particular with just under half of the electricity generated there. According to the announcement, this is the second time BASF has participated in a Vattenfall offshore wind farm project.

The Nordlicht 1 and 2 wind farm projects are located 85 kilometers north of Borkum. The planned total capacity amounts to 1.6 gigawatts. Annual electricity production is estimated at 6 terawatt hours. Construction is expected to begin in 2026, meaning that the wind farms should go into operation in 2028.

Press release

Read also:

  1. BASF hails from Rhineland-Palatinate, a region in Germany known for its rich chemical industry.
  2. Vattenfall, a prominent Swedish energy company, has operations not only in Sweden but also in Germany, contributing significantly to the country's energy sector.
  3. The partnership between BASF and Vattenfall is not the first time they collaborate on a renewable energy project; earlier, BASF participated in Vattenfall's offshore wind farm in Germany.
  4. With the acquisition of a 49% stake in Vattenfall's Nordlicht 1 and 2 wind farm projects, BASF is strengthening its commitment to using sustainable energy sources.
  5. Situated 85 kilometers north of Borkum in the North Sea, the Nordlicht 1 and 2 wind farms will support BASF's Ludwigshafen site, contributing to its energy requirements through chemically converted green electricity.
  6. BASF, along with its partner Vattenfall, aims to construct these wind farms by 2026 and expects them to start operations in 2028, contributing approximately 6 terawatt hours of electricity annually.

Source: www.stern.de

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