Gulf International Holding (GIH), a wholly-owned subsidiary of Gulf Energy Development Public Company Limited (Thailand), has entered into an agreement with Global Infrastructure Partners (GIP) to acquire its shares of the Borkum Riffgrund 2 (BKR2) offshore wind farm which owns a 50% interest in the wind farm. The remaining 50% are held by Ørsted.
The BKR2 Project is an offshore wind farm project with an installed capacity of 464.8 megawatts (export capacity of 450.0 megawatts) located in the German North Sea, northwest of Germany. The BKR2 Project has commenced commercial operation since April 2019, and has a Power Purchase Agreement (PPA) and an Operation & Maintenance Agreement (O&M Agreement) with Ørsted for a period of 20 years from the start of operations. Total investment value of the wind farm is approximately € 548-558 million.