Overview

• 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.