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Allianz Capital Partners and BASF have agreed on the purchase of 25.2% of the wind farm Hollandse Kust Zuid (HKZ) by Allianz. This follows a transaction between Vattenfall and BASF under which BASF acquired 49.5% of HKZ from Vattenfall on September 1, 2021.
The closing of the transaction with Allianz is subject to merger control approvals. Following the closing, which is expected in Q1 2022, BASF will consolidate its remaining 24.3% participation at-equity. BASF will continue to receive most of the power produced by its originally acquired share of 49.5% of HKZ under a long-term fixed-price corporate power purchasing agreement. The project led by Vattenfall is expected to become fully operational in 2023.
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