BASF to Buy Stake in German Offshore Wind Farms From Vattenfall
Provided by
Dow Jones
By Mauro Orru
BASF agreed to buy a stake in two offshore wind farms from Vattenfall to supply its chemical production sites in Europe, particularly in Ludwigshafen.
The German chemicals giant said Monday that the agreement is for a 49% stake in the Nordlicht 1 and 2 wind farms, located 85 kilometers north of the island of Borkum in the North Sea. The companies didn't disclose financial details.
The wind farms being built by Vattenfall have a combined capacity of 1.6 gigawatts. Vattenfall plans to supply customers with fossil-free electricity.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
April 22, 2024 09:26 ET (13:26 GMT)
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