IFLR1000

Veja Mate 402MW offshore wind farm

18/1/2017
Project development, Project finance
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€ 1.9 billion

$ 2.31 billion

Completed

18/1/2017

Overview:

  • Veja Mate is an operational, 402MW offshore wind farm in German waters of the North Sea. 
  • The site began supplying electricity to mainland Germany in 2017.
  • Highland Group Holdings, Siemens Financial Services and Copenhagen Infrastructure Partners (CIP) are the projects sponsors and co-owners. 
  • CIP invested €250 million in the project through its Copenhagen Infrastructure II, fund, and Siemens and Highland provided equity.
  • A syndicate of banks provided a €1.9 billion project finance facility - signed in June 2015 - for the project, 
  • KfW, KfW-Ipex, EKF, Commerzbank, Deutsche Bank, Natixis, Banco Santander, and Sumitomo provided a €1.275 non-recourse loan for the project. 

Ben Naylor - Regional editor

Jurisdictions:

Denmark
Germany

Deal types:

Project development
Project finance

Practice areas:

Project finance
Project development

Governing laws:

Denmark
Germany

Industry sector:

Energy

Firms:
CMS Hasche Sigle

Party: Highland Group Holdings (Sponsor)

Lawyers: Carl Werner, Christian von Lenthe (retired), Dorothée Janzen, Hans Fabian Kiderlen, Holger Kraft, Julia Runge, Kerstin Block, Marc Riede

Hengeler Mueller

Party: Copenhagen Infrastructure Partners (Sponsor)

Party: Siemens Financial Services (Sponsor)

Lawyers: Heinrich Knepper, Jens Wenzel, Nicolas Böhm

Moalem Weitemeyer

Party: Copenhagen Infrastructure Partners (Sponsor)

Watson Farley & Williams

Party: KfW (Lender)

Party: KfW IPEX-Bank GmbH (Lender)

Party: EKF - Eksport Kredit Fonden (Lender)

Party: Commerzbank AG (Lender)

Party: Deutsche Bank AG Na ON (Lender)

Party: Natixis (Lender)

Party: Banco Santander (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Lawyers: Daisy East, Malte Jordan, Sven Fretthold

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