Vattenfall has signed a purchase agreement for the 49% sale of its Nordlicht 1 and 2 wind farms to BASF.
The project area, located 85 km north of Borkum island in the German North Sea, consists of two separate sites: the 980 MW Nordlicht 1 and 630 MW Nordlicht 2. Construction for both sites is expected to commence in 2026. The wind farms are set to be operational in 2028, when electricity production is projected to total 6 TWh annually.
Vattenfall is responsible for developing and constructing the sites.
Nordlicht is the second major offshore wind project in which the companies are partnering. In 2021, BASF acquired nearly half of the shares in the Hollandse Kust Zuid offshore wind farm in the Dutch North Sea.
“Offshore wind energy is an essential contributor to the energy transition in Europe and is expected to replace fossil fuels on a large scale, ” says Anna Borg, president and CEO of Vattenfall.
“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 that way accelerates the journey to fossil freedom together.”
The parties have agreed not to disclose the financial details of the transaction.
