Offshore Wind Consultants (OWC) has been appointed as the lender’s technical advisor (LTA) on the 1.5 GW Hollandse Kust Zuid (HKZ) offshore wind project in the Netherlands.
As part of the scope of work, OWC performed technical due diligence on all aspects of the project design, delivery, and operations, concluding with a comprehensive report at financial close for lenders.
The company is currently ensuring, as part of the construction monitoring, that permitting, design, manufacturing, and construction expenditure progresses are in line with project lenders’ assumptions, OWC said.
OWC is supporting the offshore wind project as LTA on behalf of the German chemicals giant BASF and Allianz Capital Partners (ACP).
ACP and BASF agreed on the purchase of 25.2 per cent of HKZ in December 2021, which followed a transaction between Vattenfall and BASF under which BASF had acquired 49.5 per cent of HKZ from Vattenfall on 1 September 2021.
Hollandse Kust Zuid is the first and largest offshore wind project in the world to be developed without subsidy.
The offshore wind farm is located in the North Sea, about 18-35 kilometres off the Dutch coast between The Hague and Zandvoort.
The project, which is scheduled to be fully operational in 2023, will feature 140 Siemens Gamesa 11 MW SG DD-200 wind turbines and two substations.