German chemical giant BASF has agreed to buy 49% of the Nordlicht offshore wind farms in Germany from Swedish utility Vattenfall.
Under the agreement BASF will buy 49% of the 980MW Nordlicht I and 630MW Nordlicht II projects, both of which are planned 85km off the island of Borkum in the German North Sea.
Vattenfall previously exercised “step in” rights under German law to develop both projects instead of German power company RWE, which secured the initial rights.
The Swedish utility announced talks with BASF on co-owning the offshore wind farms in December last year.
Vattenfall wants to use its share of electricity to supply customers in Germany, while BASF plans to use its share to supply its production sites in Europe, particularly in Ludwigshafen in the west of the country.
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