Danish money for German Offshore Wind

On behalf of the fund Copenhagen Infrastructure II, Copenhagen Infrastructure Partners invests EUR 250 million in the 402 MW German offshore wind project Veja Mate.

The Veja Mate project is located in the German part of the North Sea approximately 95 km from the coast. With 67 Siemens turbines of each 6.0MW, Veja Mate will have a total capacity of 402 MW making it one of the larger projects currently under construction in the North Sea. Final Investment Decision has been made and the offshore wind farm is planned to be fully operational in 2017.

The project has a total construction budget of EUR 1.9 billion, and will be financed through a combination of equity, mezzanine loans and loans from banks and export credit agencies. Via its fund Copenhagen Infrastructure II, Copenhagen Infrastructure Partners (CIP) provides EUR 250 million in the form of a mezzanine loan, and equity will be provided by Siemens Project Ventures GmbH and Highland Group Holdings Ltd.

“Veja Mate is a fully developed and procured offshore wind project, with a grid connection on the BorWin2 platform, which from 2017 will deliver stable returns for many years. We are very satisfied with this investment, which benefits from the strong German regulatory framework, and we look forward to contributing with our competence and experience in cooperation with our partners”, says Christina G. Sørensen, Senior Partner in Copenhagen Infrastructure Partners.