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.
Copenhagen Infrastructure Partners (CIP) is a management company founded in 2012. CIP is owned and managed by the five Senior Partners, Jakob Baruël Poulsen, Rune Bro Róin, Torsten Lodberg Smed, Christian Skakkebæk and Christina Grumstrup Sørensen. The partners have extensive expertise within infrastructure investments and mergers & acquisitions. Copenhagen Infrastructure Partners was founded in connection with the establishment of the fund, Copenhagen Infrastructure I K/S. In addition to Copenhagen Infrastructure I K/S, CIP manages the fund CI Artemis K/S and the newly established fund Copenhagen Infrastructure II K/S. Copenhagen Infrastructure I K/S and CI Artemis K/S have PensionDanmark as their sole investor while Copenhagen Infrastructure II K/S so far has a number of Danish and international investors. Copenhagen Infrastructure II K/S is open for commitments until the end of Q2 2015.
About Siemens Financial Services
Siemens Financial Services (SFS) provides business-to-business financial solutions. SFS helps facilitate investments by providing commercial finance, project and structured finance with specific asset expertise in the growth fields of electrification, automation and digitalization. Employing more than 3,000 employees worldwide, SFS supports Siemens as well as other companies with their capital needs and acts as an expert manager of financial risks within the Siemens company. For more information, visit: www.siemens.com/finance.
About Highland Group Holdings Ltd.
Highland Group Holdings Ltd. is an investment vehicle owned by Lord Laidlaw of Rothiemay. Highland invests in both liquid and illiquid assets and is managed by Laidlaw Capital Management under the responsibility of Steffen Dietel as Investment Director.