HKZ Investor Holdings

Hollandse Kust Zuid Offshore Wind Farm Project Financing

Borrower (s)
HKZ Investor Holdings
Industry
Renewables/Offshore wind
Area of finance
Project & Infrastructure Finance
Region
Europe
Countries
Netherlands

Deal Overview

BASF has reached financial close on a complex €1.2 billion M&A and non-recourse project financing transaction for the acquisition of a 49.5% stake in Vatenfall's Hollandse Kust Zuid offshore wind farm project, the subsequent sale of 51 percent of its stake to Allianz Capital Partners...

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BASF has reached financial close on a complex €1.2 billion M&A and non-recourse project financing transaction for the acquisition of a 49.5% stake in Vatenfall's Hollandse Kust Zuid offshore wind farm project, the subsequent sale of 51 percent of its stake to Allianz Capital Partners and construction of the project. The financing was provided by a club of international lenders and it is an example how M&A and project financing techniques can be used to support the transition of an industrial company. 

The project is expected to become fully operational in 2023 and is the first non-subsidised wind farm project in the Netherlands. Once fully operational, Hollandse Kust Zuid will be the largest offshore wind farm in the world with 140 wind turbines and a total installed capacity of 1.5 gigawatts. 

BASF is acquiring the power produced from the wind farm for its ownership share through a long-term power purchase agreement.

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Deal Volume
$1.3bn
Financial Close
25 April 2022
Sources
Press release, Press release, Press release, Press release, Submitted by participant(s)

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Projects

Hollandse Kust Zuid Offshore Wind Farm Project

Greenfield
Offshore wind
Europe
Netherlands
$1.6bn