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International Petroleum repurchases 89,200 shares under its NCIB programme
Flex LNG secures $175 mn lease financing for Flex Courageous vessel
EDF blocks Czech nuclear contract with KHNP on legal grounds
Up to 30% of ASEAN data centres could be powered without batteries by 2030
US oil rig count falls to lowest level since 2021

Vattenfall begins construction of Germany’s largest offshore wind farm

Swedish group Vattenfall has approved the final investment for two major offshore projects in the North Sea, with construction scheduled to start in 2026 and operations expected by 2028.
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Energy company Vattenfall AB has confirmed the final investment decision for the offshore wind farms Nordlicht 1 and 2, located in the German sector of the North Sea. Construction is set to begin in 2026, marking a key step in the company’s offshore wind development strategy. Upon commissioning in 2028, Nordlicht 1 will become the largest offshore wind project ever undertaken in Germany, with a net capacity exceeding 1.6 gigawatts.

A strategic partnership with BASF to secure supply

Vattenfall has also announced the repurchase of shares held by German chemical group BASF SE in the Nordlicht cluster. This transaction forms part of an extended collaboration agreement, securing BASF long-term access to renewable electricity. The supply will support its chemical production facilities in Europe, as demand for low-carbon energy continues to grow.

The turbines for both projects will incorporate towers made with low-emission steel, reducing the overall carbon footprint of the structures by approximately 16 percent. This approach aligns with Vattenfall’s industrial policy to limit the environmental impact of its operations.

A permit-dependent project for Nordlicht 2

While the investment decision for Nordlicht 1 has been fully confirmed, that of Nordlicht 2 remains subject to receipt of the necessary regulatory permits. Administrative procedures are ongoing, and no specific timeline has been disclosed for the remaining approvals.

The development of the Nordlicht cluster forms part of a broader wave of European investment in renewable energy, aimed at meeting the rising demand for non-fossil electricity across the continent. The project requires coordination with several industrial suppliers, although Vattenfall has yet to reveal the names of the companies involved in the supply chain.

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International Petroleum repurchases 89,200 shares under its NCIB programme
Flex LNG secures $175 mn lease financing for Flex Courageous vessel
EDF blocks Czech nuclear contract with KHNP on legal grounds
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