German chemicals company BASF is in advanced talks to buy 49% stakes in Vattenfall’s 980MW Nordlicht 1 and 630MW Nordlicht 2 offshore wind projects in Germany.
The deal is due to close in the first half of 2024 and the pair plan to make final investment decisions on both projects in 2025. Construction is scheduled to start in 2026 with commissioning due in 2028.
BASF plans to use the electricity from its share of the projects to power its chemicals production sites in Europe, particularly the city of Ludwigshafen.
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