Vattenfall to sell stake in the ‘world’s largest’ offshore wind farm for €300m

German chemicals giant BASF has bought the 49.5% share in the project

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Swedish power company Vattenfall will sell its 49.5% share of the offshore wind farm Hollandse Kust Zuid in the Netherlands to the chemicals giant BASF.

According to the deal, the purchase price amounts to €300 million (£257m).

BASF’s total commitment amounts to around €1.6 billion (£1.3bn), including the company’s contribution to funding the wind farm construction.

The project, which is expected to be commissioned in 2023, is forecast to become the largest offshore wind farm in the world with 140 wind turbines and a total installed capacity of 1.5GW.

Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, said: “With this investment, we are securing significant volumes of electricity from renewable sources for BASF, which is a key element of our transformation towards climate neutrality.”

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