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Vattenfall and BASF have agreed the sale of 49.5% of Vattenfall’s offshore wind farm Hollandse Kust Zuid (HKZ) in the Netherlands. Once fully commissioned it will be the largest offshore wind farm in the world and also the first one ever to be built without subsidies for the power produced. Vattenfall will use Hollandse Kust Zuid to supply fossil free electricity to its customers in the Netherlands. BASF will use its electricity share to support chemical production in sites across Europe. BASF and Vattenfall have signed a contract for the purchase of 49.5% of Vattenfall’s wind farm Hollands Kust Zuid by BASF. Including BASF’s contribution to fund the wind farm construction, BASF’s total commitment amounts to around €1.6 billion. Closing of the transaction is expected in the fourth quarter of 2021, subject to the approval of the relevant authorities. Offshore construction of the wind farm will start in July 2021. Once fully operational, the wind farm will be the largest offshore wind farm in the world which does not receive any price subsidies for the power produced.

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