BASF has announced that it is in 'advanced and exclusive' discussions with Vattenfall to become a partner in the Nordlicht 1 and 2 projects, through the sale of a 49% stake in the project to BASF.

The two parties have signed a memorandum of understanding to formally express their shared ambition.

It is planned that Vattenfall will use its share of green electricity to supply its German customers. BASF will receive around half of the electricity generated, and will supply its chemical production sites throughout Europe, in particular Ludwigshafen.

As a reminder, the Nordlicht wind farm consists of two separate sites: Nordlicht 1 with a capacity of 980 megawatts and Nordlicht 2 with 630 megawatts.

Once fully operational, their combined output is expected to be around 6 terawatt-hours (TWh) per year, equivalent to the electricity consumption of 1.6 million German households.

The transaction is expected to close in the first half of 2024. Pending a final investment decision, expected in 2025, construction of Nordlicht 1 and 2 will start in 2026. The wind farms should be fully operational in 2028.

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