KGAL, Commerz Real and Ingka Group have acquired the remaining 20% from Siemens Financial Services in the 402MW Veja Mate offshore wind farm in the German North Sea for an undisclosed price.
The sale was first reported in the subscriber-only newsletter reNEWS.
In February 2019, a consortium consisting of Commerz Real and Ingka Group as the largest shareholders, together with KGAL and ALH Group indirectly purchased 80% of the shares in Veja Mate offshore wind farm.
KGAL, Commerz Real and Ingka Group have now acquired the remaining stake from Siemens Financial Services.
KGAL Investment Management managing director Michael Ebner said: “Veja Mate has deservedly been awarded “Best Offshore Wind Power Plant in Operation” for the second year in a row at the Helgoland Offshore Economic Forum.
“The investment has so far fully met our high expectations, and our investors are participating in attractive, well predictable returns. We are therefore pleased to have the opportunity to further increase our stake.”
Veja Mate is located approximately 95km northwest of the island of Borkum in Germany’s exclusive economic zone in the North Sea and covers a total area of 51 square km.