Basf(US:BASFY) ZACKSยท2024-06-27 14:51Group 1 - BASF SE and Vattenfall signed contracts with Vestas for 112 V236-15.0 MW wind turbines for the Nordlicht 1 and 2 offshore wind projects in the German North Sea, expected to power 1.6 million households by 2028 [1][2] - The Nordlicht wind farm will consist of 68 turbines for Nordlicht 1 and 44 for Nordlicht 2, with a total installed capacity of 1.6 gigawatts, making it Vattenfall's largest offshore wind project [2][3] - BASF holds a 49% stake in the Nordlicht projects and plans to use about half of the generated electricity for its European chemical production, particularly in Ludwigshafen [3] Group 2 - The Nordlicht project is being developed without government subsidies and is crucial for Germany's energy transition goals [2][3] - Vattenfall aims to provide fossil-free electricity to German customers from the Nordlicht projects [3] - BASF's shares have increased by 0.6% over the past year, contrasting with a 6.8% decline in its industry [5]