BASF has completed its purchase of 49.5% of the Hollandse Kust Zuid offshore wind farm from Swedish multinational power company Vattenfall.
According to an agreement BASF and Vattenfall signed in June 2021, the purchase price amounts to €0.3 billion. BASF is also reportedly funding the wind farm construction.
Construction work for the wind farm in the Dutch North Sea started in July 2021 and the offshore wind farm is expected to become fully operational in 2023. At that time, it will be the largest offshore wind farm in the world with a total installed capacity of 1.5 gigawatts. ‘The electricity from the wind farm will enable BASF to implement innovative, low-emission technologies at several of its production sites in Europe,’ the company said.
This story uses material from BASF, with editorial changes made by Materials Today.