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Green Giraffe advised Highland Group Holdings, Siemens Project Ventures, and Copenhagen Infrastructure Partners on the divestment of an 80% stake in the Veja Mate offshore wind farm
Green Giraffe is pleased to announce the successful closing of project Paragon, the divestment of an 80% stake in the Veja Mate offshore wind farm to a consortium composed of funds managed by Commerz Real, Ingka Group, wpd invest, and KGAL.
Green Giraffe and FIH Partners acted as exclusive financial advisors to Highland Group Holdings, Siemens Project Ventures and Copenhagen Infrastructure Partners (through Copenhagen Infrastructure II K/S), who jointly owned and managed the project since financial close in June 2015.
Veja Mate is a 402 MW offshore wind farm located in the German North Sea, approximately 95 km off the island of Borkum. All 67 Siemens turbines were successfully commissioned in May 2017, take-over occurred in October 2017 and project completion was reached in early February 2018. The divestment follows the successful restructuring of the EUR 1,277 M senior facilities, which occurred in June 2018.
The value of the transaction is not disclosed.
In November 2019 the project won the IJ Global – Best Renewable Acquisition award