EC okays Siemens' buy of 402-MW Veja Mate wind farm

Source: Veja Mate Offshore Project GmbH (www.vejamate.net)

February 1 (Renewables Now) - The acquisition of the 402-MW Veja Mate offshore wind park in the German North Sea by Siemens Project Ventures GmbH has been given the green light by the European Commission under the EU Merger Regulation, the EC said today.

Under the approved transaction, the investment arm of Siemens Financial Services GmbH will acquire Veja Mate Offshore Project GmbH. The EC said the proposed deal would raise no competition concerns given that Siemens already had a stake in Veja Mate prior to the transaction.

Highland Group Holdings Ltd, Siemens Financial Services and a fund managed by Copenhagen Infrastructure Partners (CIP) were the owners of the offshore wind farm at the time of its full commissioning in May 2017. Construction of the park, which has 67 Siemens SWT-6.0-154 turbines, was completed in less than 14 months slightly ahead of schedule.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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