Commerz Real-led consortium completes purchase of 80% stakes in 402 MW Veja Mate offshore wind project

The consortium of composed of funds managed by Commerz Real, Ingka Group, wpd invest, and KGAL has completed the purchase of 80% stakes in the 402 MW Veja Mate offshore wind project located in Germany. 

 Veja Mate is an offshore wind farm with a capacity of 402 MW built in the German North Sea. It is expected to produce more than 1.6 TWh of electricity per year. The project is located 95 km NW from Borkum island in the German Exclusive Economic Zone, an area with strong, steady winds. A total of 67 Siemens SWT-6.0-154 turbines, each with a capacity of 6 MW and a rotor diameter of 154 meters have been installed and produce enough electricity for 400,000 German homes every year. It is connected to the power grid via the existing Borwin 2 offshore sub-station managed by TenneT, the grid operator.

The wind asset is acquired from the consortium composed of Highland Group Holdings, Siemens Financial Services and Copenhagen Infrastructure Partners, through Copenhagen Infrastructure II K/S (“CI-II”), who have jointly owned and managed the project since financial close in June 2015. Siemens Financial Services will retain a 20% ownership stake in the project and CI-II will remain a lender to Veja Mate.

Green Giraffe and FIH Partners acted as exclusive financial advisors to the seller of the wind asset while Watson Farley & William has advised the purchasing consortium.