DLA Piper advises BASF on acquisition of 49% of Germany’s Nordlicht offshore wind farms

DLA Piper has advised BASF on the acquisition of 49% of the German offshore wind farms Nordlicht 1 and 2 from Vattenfall. The Nordlicht wind project is being built in the German North Sea without state subsidies and, with a total installed capacity of 1.6 gigawatts, will be the largest offshore wind farm project in realization for Vattenfall to date. Vattenfall intends to use its share of future electricity generation to supply fossil-free electricity to its German customers. BASF will use its 49% share of electricity to supply its chemical production sites in Europe, especially in Ludwigshafen.

Subject to the final investment decision, construction of Nordlicht 1 and 2 is expected to begin in 2026. The wind farms are expected to be fully operational in 2028.

Nordlicht is already the second major offshore wind project in which BASF is participating as a partner of Vattenfall. In 2021, a DLA Piper team led by partners Dr Benjamin Parameswaran and Michael Cieslarczyk already advised BASF on the acquisition of almost half of the shares in the Hollandse Kust Zuid offshore wind farm in the Dutch North Sea.

Dr Martin Brudermüller, Chairman of the Board of Executive Directors of BASF, says: “BASF remains on track with its transformation. With the investment in Nordlicht 1 and 2, we will now have the necessary amounts of renewable energy to implement the next steps of the transformation in Europe, especially at our largest site in Ludwigshafen. Together with our long-standing partner Vattenfall, we are creating the conditions for achieving our 2030 target of reducing our scope 1 and 2 emissions by 25 percent compared to 2018”.

“I am proud of our ongoing terrific partnership between BASF in-house and DLA Piper colleagues – working together to meet our renewable commitment. I am grateful to Ben Parameswaran and his team who have been instrumental in supporting BASF in its energy transition”, adds Matthew Lepore, General Counsel and Chief Compliance Officer / President, Legal, Compliance and Insurance at BASF.

Partner and Global Co-Chair of DLA Piper’s Corporate practice, Dr Benjamin Parameswaran (Hamburg), led the overall transaction with partner Michael Cieslarczyk (Energy, Cologne/Düsseldorf) as well as counsels Dr Philipp Clemens and Cristina Helena Villafrade (both Corporate/M&A, Hamburg) in the lead team.

In addition, partners Prof Dr Ludger Giesberts (Public Law, Cologne), Dr Manuel Indlekofer (Real Estate, Munich), Dr Marie-Theres Rämer (Tax, Frankfurt), counsel Christopher Ollech (Energy, Cologne), Dr Enno Ahlenstiel (Antitrust, Cologne), senior associate Dr Marcel Schmidt (Corporate/M&A, Hamburg) and associates Dr Elisabeth Spiecker (Energy, Cologne), Angelina Krußig (Real Estate, Munich) and Svenja Mayer (Public Law, Cologne) were also involved.

The BASF legal in-house team was led by Dr Stefan Rothweiler (Vice President Legal – Corporate) and Dr Sabina Krispenz (Principal Legal Counsel).