OFFSHORE WIND

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Vattenfall, BASF plan offshore wind (1.6 GW) partnership

(Montel) Swedish utility Vattenfall plans to sell 49% stakes in two offshore wind farms in the German North Sea totalling 1.6 GW to German industrial giant BASF, the former said on Tuesday.

The contract regarding Nordlicht 1 (980 MW) and Nordlicht 2 (630 MW), is expected to be signed in the first half of 2024, according to the Swedish state-owned power producer.

Subject to a final investment decision, expected in 2025, construction of Nordlicht 1 and 2 could begin in 2026, with the farms set to be fully operational by 2028, it added.

Vattenfall planned to build the two wind farms and supply the electricity to customers in Germany, it said.

BASF aimed to use the electricity to supply its chemical sites in Europe, primarily at its headquarters in Ludwigshafen.

This is the second agreement of its kind between the two companies.

In 2021, BASF acquired a stake in Vattenfall’s Hollandse Kust Zuid (1.5 GW) in the Netherlands, currently the world’s largest offshore wind farm.

BASF will receive 49.5% of the electricity from the farm, expected to be fully operational next year.