Following the approval of all relevant authorities, BASF has completed the purchase of 49.5% of the offshore wind farm Hollandse Kust Zuid from Vattenfall.
According to the agreement BASF and Vattenfall had signed in June 2021, the purchase price amounts to €0.3 billion. Including BASF’s contribution to fund the wind farm construction, BASF’s total commitment amounts to around €1.6 billion. BASF intends to reduce its investment by selling shares to a financial co-investor; the respective process has been initiated already. Construction work for the wind farm in the Dutch North Sea started in July 2021 and the wind farm is expected to become fully operational in 2023.
