Commerz Real, the investment arm of German bank Commerz, renewable energy developer Wpd’s subsidiary Wpd Invest, German asset and investment manager KGAL and Ikea owner the Ingka Group will now own the 80% stake in the project.
Siemens Financial Services will retain the remaining 20% stake, while former owners Highlands Group Holdings and Copenhagen Infrastructure Partners (CIP) will divest their ownership shares.
CIP’s CI-II fund will remain a lender to the Veja Mate project, ensuring a stable cash flow to investors, according to Michael Hannibal, a partner at CIP.
Veja Mate consists of 67 of Siemens Gamesa’s SWT-6.0-154 turbines and was commissioned in May 2017.
Krister Mattsson, head of Ingka Investments at the Ingka Group said the company’s 25% stake in Veja Mate helped it toward its goal of "producing more energy from renewable sources by 2020 than consuming it".
Meanwhile, a spokesman for KGAL’s management board added "Veja Mate’s stable and regulated cash flow will stabilise the performance" of one of its funds, which is made up of a portfolio of renewable energy assets across Europe.
CIP’s Michael Hannibal told Windpower Monthly: "We’re still staying in the project for the long-run. But what we have done here is make an adjustment.
"We aim, in general, to balance our funds so that we have the right composition of country mix and technology mix, for example.
"In our business as fund managers this is pretty normal. We need to make sure that there is the right balance."
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