BASF Sells Nordlicht Stake Back to Vattenfall, Secures Renewable Energy Supply

The chemical giant shifts focus to long-term green energy procurement for European operations as Vattenfall advances its offshore wind project in the North Sea.

• BASF has sold its 49% stake in Vattenfall's Nordlicht offshore wind project, originally acquired in April 2024, back to the Swedish energy company.
• As part of the deal, BASF secured a long-term renewable electricity supply for its European chemical production facilities.
• The Nordlicht project, located 85 kilometers north of Borkum in the North Sea, is set to produce six terawatt-hours of electricity annually once operational.
• Vattenfall remains committed to the project, with construction scheduled to begin in 2026 and operations expected to start in 2028.
• The sale aligns with BASF's strategy to prioritize renewable energy procurement over direct involvement in energy infrastructure development.

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