Vattenfall and BASF are engaged in advanced and exclusive discussions for a partnership on the Nordlicht 1 and 2 wind projects. The collaboration involves the sale of 49 percent of the project shares to BASF, as outlined in a Memorandum of Understanding signed by both parties.

Situated 85 km north of the island of Borkum in the German North Sea, the Nordlicht wind park comprises two separate sites: Nordlicht 1 with a capacity of 980 MW and Nordlicht 2 with 630 MW. Vattenfall is responsible for the development and construction of the Nordlicht sites. The combined annual production of Nordlicht 1 and 2, upon full operation, is estimated to be around 6 terawatt hours (TWh), equivalent to the electricity consumption of 1.6 million German households.

The transaction signing is anticipated in the first half of 2024, and pending a final investment decision, scheduled for 2025, construction is expected to commence in 2026. Nordlicht 1 and 2 are projected to be fully operational by 2028.