CIP divests equity stake in the German offshore wind farm, Veja Mate

Copenhagen Infrastructure Partners (CIP), through the fund CI-II, is pleased to announce the divestment of its 23,4% stake in the offshore wind farm Veja Mate alongside its co-shareholders Highland Group Holdings and Siemens Financial Services to a European consortium of investors. CI-II will remain a lender to Veja Mate.

Copenhagen Infrastructure Partners (CIP), through the fund Copenhagen Infrastructure II K/S (“CI-II”), is pleased to announce that it, alongside its co-shareholders Highland Group Holdings and Siemens Financial Services, has entered into an agreement to sell 80% of shares in the operating offshore wind farm Veja Mate to a European consortium composed of funds managed by Commerz Real, wpd invest, KGAL, and the Ingka Group. Siemens Financial Services will retain a 20% ownership stake in the project company and CI-II will remain a lender to Veja Mate.

“After financial close of the Veja Mate project in June 2015 and the subsequent delivery of the 402 MW offshore wind farm four months ahead of schedule and below budget, the divestment of CI-II’s 23.4% ownership stake has been a good opportunity for CIP and its investors to realize part of its investment in Veja Mate. CI-II continues to be a debt provider to the project company, which provides a long-term stable cash flow to its investors”, says Michael Hannibal, Partner at CIP. “We would also like to take the opportunity to thank Siemens and Highland for the good collaboration and welcome the new shareholders to the project.”

In relation to the transaction, the existing shareholders received advisory services from FIH Partners, Green Giraffe and CMS Hasche Sigle

About Veja Mate
Veja Mate is located in the German part of the North Sea, approximately 95 km from the coast. The wind farm consists of 67 Siemens turbines of each 6.0 MW, making the total capacity 402 MW. It is one of the largest offshore wind farms in the North Sea.

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners P/S (CIP) is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, and other energy assets like reserve capacity and storage. CIP has approximately 110 employees and offices in Copenhagen, Taipei, New York, Tokyo, Utrecht, and London.

CIP manages six funds and has more than EUR 8 bn under management. CI I, CI A I and CI A II have PensionDanmark as founding- and sole investor. CI II has 19 Danish and international institutional investors and CI III has 42 institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and multi-lateral organizations e.g. EIB. CI NMF I has 15 investors from the Nordics and Continental Europe.

CIP was founded in 2012 by senior executives from the energy industry in cooperation with Pension Denmark.