OWC becomes lenders technical advisor on Hollandse Kust Zuid

OWC has been appointed as lenders technical advisor (LTA) on the 1.5GW Hollandse Kust Zuid offshore wind project in the Netherlands.

In the capacity of LTA, OWC has been assisting the project on behalf of BASF and Allianz Capital Partners (ACP). OWC completed technical due diligence on every aspect of the project’s design, delivery, and operations as part of the scope of work, culminating in a comprehensive report for lenders at financial close. Currently, as part of construction monitoring, OWC is making sure that permitting, design, manufacturing, and construction expenditure progresses are consistent with the project lenders’ assumptions.

Following a deal between Vattenfall and BASF in which BASF acquired 49.5 percent of HKZ from Vattenfall on September 1, 2021, ACP and BASF have agreed that Allianz will purchase 25.2% of the wind farm Hollandse Kust Zuid (HKZ) in December 2021.

When finished, the project will be the largest offshore wind project ever. The 1.5 GW project is located between The Hague and Zandvoort, about 20 kilometers inland from the Dutch coast. It will have two offshore wind substations and 140 Siemens Gamesa 11MW SG DD-200 wind turbines. It will be the first offshore wind farm constructed without assistance from the government. Construction on the project commenced in July 2021, and it is expected to be completed in 2023.

Image source:  Vattenfall

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