OWC appointed as lenders technical advisor for Hollandse Kust Zuid

4C Offshore | Tom Russell
By: 21/07/2022 OWC

OWC has been appointed as lenders technical advisor (LTA) on the 1.5GW Hollandse Kust Zuid Offshore Wind Project in the Netherlands.


OWC has been supporting the project as LTA on behalf of BASF and Allianz Capital Partners (ACP). As part of the scope of work, OWC performed technical due diligence on all aspects of the project design, delivery, and operations, concluding to a comprehensive report at financial close for lenders and currently ensuring as part of the construction monitoring that permitting, design, manufacturing, and construction expenditure progresses are in line with project lenders’ assumptions.
 
ACP and BASF have agreed on the purchase of 25.2% of the windfarm Hollandse Kust Zuid (HKZ) by Allianz in December 2021 which followed a transaction between Vattenfall and BASF under which BASF acquired 49.5% of HKZ from Vattenfall on September 1, 2021.
 
The Hollandse Kust Zuid wind farm zone consists of two sites,
Hollandse Kust Zuid 1&2 and Hollandse Kust Zuid 3&4, and is being developed by Vattenfall, which secured the rights to the projects with subsidy free bids in March 2018 and July 2019.

The wind farms are located between 18 and 36 kilometres off the Dutch coast, between the Hague and Zandvoort. They will be fitted with 140 units of Siemens Gamesa 11 MW, SG 11.0-200 DD offshore turbines. Once the wind farm is operational, the 140 wind turbines will produce more than 6 TWh of green electricity annually.
The project started construction in July 2021 and will be fully operational in 2023.



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