24 June 2021
Vattenfall sells half of world’s biggest offshore wind farm to BASF
BASF and Vattenfall have signed a contract for the purchase of 49.5% of Vattenfall’s wind farm Hollandse Kust Zuid (HKZ) by BASF for €0.3 billion. When including BASF’s contribution to fund the wind farm construction, BASF’s total commitment will be €1.6 billion. The transaction is expected to close in 4Q21, and offshore construction of the wind farm will start in July 2021, becoming fully operational in 2023. Once fully operational, the wind farm will be the largest offshore wind farm in the world with 140 wind turbines and a total installed capacity of 1.5 GW.
BASF has acquired the electricity to enable it to implement innovative, low-emission technologies at several of its production sites in Europe, especially its Antwerp Verbund site, which is the largest chemical production site in Belgium and the second largest BASF Group site worldwide. BASF is working on scaling up low-emission technologies to industrial dimensions. Beyond 2030, BASF expects to implement technologies such as CO2-free methods for the production of hydrogen and electrically heated steam crackers, which will significantly increase BASF’s demand of renewable power.
Anna Borg, President and CEO of Vattenfall said “Vattenfall and BASF share a common objective of phasing out greenhouse gas emissions from our operations. With this cooperation, Vattenfall once more proves that partnerships with industries are a key element to accelerate the European energy transition across sectors. I am particularly proud that we can do this, while at the same time securing the delivery of fossil-free electricity to our Dutch customers.” (press release)
Green Hydrogen Systems participates in Australian hydrogen project
Green Hydrogen Systems has sold its HyProvide A-Series electrolyser to Hydrogen Fuels Australia for Australia's first integrated green hydrogen production and refueling station in Melbourne. The project will use rainwater and renewable energy to produce about 60-90 kg of green hydrogen per day. (Brint Branchen)
What we’re reading
- Crushing climate impacts to hit sooner than feared: draft UN report (Agence France Presse)
- Crown Estate set for windfall from green energy revolution (Financial Times, paywall)
About Nordic Green News
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.
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