BASF to buy into Vattenfall offshore wind farms to power German chemicals sites
BASF to buy into Vattenfall offshore wind farms to power German chemicals sites | Windpower Monthly
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.
Related Knowledge Center: ENERGY BASICS: wind
Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent.