Vårgrønn, a JV between Plenitude and the Norwegian energy entrepreneur and investor HitecVision, has completed the acquisition of 100% of PGGM Infrastructure Fund’s shares in the 288MW Baltic 2 offshore wind farm.
The German energy company EnBW and Vårgrønn now respectively own 50.1% and 27.4% of the German offshore wind farm (pictured), with EnBW managing operations and maintenance activities.
Ärzteversorgung Westfalen-Lippe, the largest pension fund in Germany, will retain the remaining 22.5% indirect stake in Baltic 2.
Stephen Bull, chief executive of Vårgrønn, said: “This acquisition represents an important part of a broader growth strategy and provides Vårgrønn with operational insights.
“We are very pleased to have closed this acquisition and look forward to start working together with our new partners.”