Vattenfall, a Swedish energy utility, announced on Tuesday that it had made a final decision to invest in two wind farm projects located in the German North Sea. Nordlicht 1 and 2 are expected to be Germany's largest offshore wind farm.

Vattenfall announced in a press release that it has agreed to purchase the 49% stake of the Nordlicht Cluster sold to BASF by 2024. The German chemicals group, meanwhile, will have access to long-term renewable electricity supply.

Vattenfall announced that construction for Nordlicht 1 & 2 will begin in 2026. The two projects will have a combined capacity of 1.6 gigawatts.

The two wind farms are expected to be fully operational by 2028. They will be able produce 6 terawatt-hours (TWh), which is equivalent to the annual electricity consumption of around 1.6 million German homes.

Vattenfall declined to give any further information when contacted. Reporting by Louise Breusch Rasmussen, Nora Buli and Terje Solsvik. Editing by Terje Solsvik.

(source: Reuters)