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BASF sells share in Nordlicht wind farms back to Vattenfall
BASF has announced that it has sold its 49 percent equity share in Nordlicht 1 and 2 wind farms back to Vattenfall as part of a wider strategy to streamline its current portfolio of renewable power projects; the deal will result in a non-cash effective disposal loss of around €300 million in BASF’s Group earnings in the first quarter of 2025. The post BASF sells share in Nordlicht wind farms back to Vattenfall appeared first on Global Cosmetics News.
THE WHAT? BASF has announced that it has sold its 49 percent equity share in Nordlicht 1 and 2 wind farms back to Vattenfall as part of a wider strategy to streamline its current portfolio of renewable power projects; the deal will result in a non-cash effective disposal loss of around €300 million in BASF’s Group earnings in the first quarter of 2025.
THE DETAILS In parallel, BASF continues its 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 WHY? The transaction reflects BASF’s disciplined approach to capital allocation as part of its “Winning Ways” strategy that was launched in Q3 2024. The company said in a statement that it ‘remains committed to its CO2 reduction targets and will continue to reduce its emissions’.
The post BASF sells share in Nordlicht wind farms back to Vattenfall appeared first on Global Cosmetics News.
