BASF Purchases 49.5% of Offshore Wind Farm in Dutch North Sea
LUDWIGSHAFEN, Germany — Following the approval of all relevant authorities, BASF has successfully completed the purchase of 49.5% of the offshore wind farm Hollandse Kust Zuid from Vattenfall. The closing of the transaction, originally expected for the fourth quarter of 2021, was completed earlier than planned.
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.