BASF to buy offshore wind farm shares from Vattenfall

Approval of all relevant authorities received / Construction work in the North Sea already started / Power supply for low-emission technologies to begin in 2023

Following the approval of all relevant authorities, BASF has today 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... ... More: Official Press Release BASF

Keywords:

BASF, offshore, wind farm, Netherlands, Hollandse Kust Zuid, share, North Sea, construction, electricity, CO2, emissions