Germany – Vattenfall and BASF are poised to embark on an exclusive partnership for the Nordlicht 1 and 2 wind projects.
The collaboration, marked by the sale of 49 percent of project shares to BASF, aims to propel the transformation to Net Zero and significantly contribute to the decarbonization of industry in Europe.
Situated 85 kilometers north of the island of Borkum in the German North Sea, the Nordlicht wind park zone comprises two distinct sites: Nordlicht 1 with a capacity of 980 megawatts and Nordlicht 2 with 630 megawatts. Vattenfall, the developer and constructor of the Nordlicht sites, envisions their combined production to reach around 6 terawatt hours (TWh) annually. This formidable output is equivalent to the electricity consumption of 1.6 million German households, marking a substantial leap towards sustainable energy generation.
Collaboration
The collaboration between Vattenfall and BASF has been solidified through a Memorandum of Understanding, signifying the shared ambition to advance renewable energy goals. As per the terms, Vattenfall will utilize its share of fossil-free electricity to cater to German customers, while BASF is set to receive nearly half of the produced electricity. This power will supply BASF’s chemical production sites across Europe, with a particular focus on Ludwigshafen.
The transaction, anticipated to be formally signed in the first half of 2024, is contingent upon a final investment decision, projected in 2025. The construction phase of Nordlicht 1 and 2 is slated to start in 2026, with full operational capacity expected by 2028.
