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Gulf International Holding (GIH), a wholly-owned subsidiary of Gulf Energy Development Public Company (Thailand), has entered into a Share Purchase Agreement with Global Infrastructure Partners (GIP) to acquire a 50% interest in the Borkum Riffgrund 2 Offshore Wind Farm (BKR2 Project), in which Ørsted holds the remaining 50%.
 
The BKR2 Project has an installed capacity of 464.8MW and is 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. Moreover, the BKR2 Project receives a guaranteed Feed-in-Tariff (FiT) backed by the German government for 9.5 years after commencement of commercial operations and will receive merchant price with guaranteed floor price for years 9.5-20.
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