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CMS advises Highland Group Holdings Ltd., Siemens Financial Services and Copenhagen Infrastructure Partners on sale of Veja Mate offshore wind farm

13/02/2019

Hamburg – Highland Group Holdings Ltd., Siemens Financial Services and Copenhagen Infrastructure Partners have sold and transferred 80% of their shares in Germany’s second-largest offshore wind farm, Veja Mate. The buyer is a European consortium comprising Commerz Real, wpd invest, KGAL Group and Ingka Group. While Highland Group Holdings Ltd. and Copenhagen Infrastructure Partners sold and transferred all of their shares, Siemens Financial Services retains a 20% stake in the Veja Mate offshore wind farm.

A multidisciplinary team from CMS’s Hamburg office headed by lead partner Dr Holger Kraft provided comprehensive advice to Highland Group Holdings Ltd., Siemens Financial Services and Copenhagen Infrastructure Partners on all legal aspects of negotiating, signing and closing the transaction.

CMS already advised Highland Group Holdings Ltd. on the acquisition of the Veja Mate wind farm project in 2014 as well as in relation to the subsequent investments of Siemens Financial Services and Copenhagen Infrastructure Partners as co-investors in 2015. CMS has also actively advised on the development of Veja Mate on an ongoing basis since 2014. This included reorganising of the project structure, drafting and negotiating the project agreements, legal support for regulatory aspects (including grid access, the German Renewable Energy Act, approval and competition aspects) and advising on corporate and tax law matters. This advice was provided in close cooperation with a core team of project advisors, which also included Green Giraffe and FIH Partners. In 2018, CMS also advised on the restructuring of Veja Mate's project financing in a volume of EUR 1.3 billion.

The Veja Mate offshore wind farm is located in the German Exclusive Economic Zone of the North Sea and consists of 67 Siemens turbines, each capable of generating 6.0 MW. Veja Mate’s total capacity of 402 MW makes it one of the largest offshore wind farms in the North Sea.

CMS Germany

Dr Holger Kraft, Lead Partner
Matthias Sethmann, Counsel
Kai Ostermann, Senior Associate
Dr Susanne Keck, Senior Associate
Gregor Lamersdorf, Associate
Luise Pelzer, Associate
Dr Constantin Lentz, Associate, all M&A Energy
Charlotte von der Heydt-von Kalckreuth, Senior Associate
Dr Anja Wiedemann, Senior Associate
Laura Moosleitner, Senior Associate, all Corporate/M&A
Dr Heino Büsching, Partner
Dr Olaf Thießen, Counsel
Dr Isabelle Holly, Counsel, all Tax
Dr Marc Riede, Partner
Dr Kerstin Block, Partner
Dr Julia Runge, Counsel
Carl Werner, Counsel
Christian Hermanussen, Senior Associate, all Banking & Finance
Jürgen Siemers, Partner
Dr Philipp Nonnenmühlen, Associate, both Labor, Employment & Pensions
Dr Tim Reher, Partner
Christoff Soltau, Partner
Dr Björn Herbers, Partner
Dr Denis Schlimpert, Associate, all Competition & EU
Dr Matthias Schlingmann, Partner, Dispute Resolution
Dr Fritz von Hammerstein, Partner
Dr Clara Volkert, Senior Associate, both Public Law

Press Contact
presse@cms-hs.com 

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