BASF sells share in wind farms back to Vattenfall; secures access to long-term supply of renewable electricity

To align its green power supply and demand, German chemical firm BASF is streamlining its current portfolio of renewable power projects. Accordingly, BASF has decided to sell its 49% equity share in the Nordlicht 1 and 2 wind farms back to Vattenfall. In parallel, BASF continues the collaboration with Vattenfall by securing a long-term supply of renewable power for BASF’s chemical production in Europe – at a time when such additional supply will be needed.

The transaction reflects BASF’s disciplined approach to capital allocation; it results in a non-cash effective disposal loss of around EUR300 million in BASF’s Group earnings in the first quarter of 2025.

BASF adds it remains committed to its CO2 reduction targets. In 2024, electricity from renewable sources as a share of BASF’s total electricity consumption rose further to 26% (2023: 20%).

The company adds it will continue to reduce its emissions, for example based on power purchase agreements and direct investments.