KGAL, Commerz Real and Ingka Group have acquired the remaining 20 percent in Germany’s third-largest offshore wind farm — the 402-megawatt Veja Mate — bringing their ownership to 100 percent.
In 2019, a consortium consisting of Commerz Real and Ingka Group as the largest shareholders, together with KGAL and ALH Group, indirectly purchased 80 percent of the shares in the offshore wind farm. KGAL, Commerz Real and Ingka Group have now acquired the remaining stake from Siemens Financial Services.
The investment is part of the renewable energy fund KGAL Enhanced Sustainable Power Fund (ESPF 4), which held its final close in 2019 with €750 million ($823 million) in equity commitments. KGAL ESPF 4 invests predominantly in wind, solar and hydroelectric power in Europe, as well as additional renewable energy and storage and network infrastructure assets. The fund is able to invest up until mi
