Hengeler Mueller advises Copenhagen Infrastructure Partners and Siemens on investment in offshore wind farm Veja Mate
30. June 2015
Copenhagen Infrastructure II K/S, a fund managed by Copenhagen Infrastructure Partners K/S, Highland Group Holdings Ltd. and Siemens Project Ventures GmbH have announced the successful financing of the offshore wind farm project Veja Mate, for a total project investment of EUR 1.9 bn. Besides the contribution of the investors, the project is financed through a "non-recourse" senior debt financing in an amount of EUR 1.275 m.
Once finished, the offshore wind farm Veja Mate will consist of 67 wind turbines with a total capacity of 400 MW. Veja Mate will be constructed 95 kilometres North West from the island of Borkum and will be connected to the power grid via the existing Borwin 2 offshore substation operated by TenneT. The wind farm will be one of the largest in the world with an expected production of roughly 1.6 TWh per year.
Hengeler Mueller is advising CIP on the structuring of the investment and carried out the due diligence for CIP and Siemens Project Ventures GmbH. The Hengeler Mueller team includes partners Jens Wenzel (Corporate/M&A), Nicolas Böhm (M&A/Energy) (both Berlin), Heinrich Knepper (Finance, Frankfurt), Jan Bonhage, (Regulatory, Berlin), Martin Klein (Tax, Frankfurt), counsel Andreas Breier (Energy, Berlin) as well as associates Nadine Hartung, Maike Hölty, Robert Kilian, Lucas Kleinschmitt (all Corporate/M&A, Berlin), Alexander von Jeinsen (Finance, Frankfurt), Fabian Quast, Caroline Raspé and Marc Roberts (all Regulatory, Berlin).