Veja Mate
Located 95km NW of Borkum. Originally CIP/Highland Group; current owners acquired 2019-2022.
Status
Operationallifecycle stage
Ownership
Location
GermanyNorth Sea
Technology
Capacity
402 MW ◆
Turbines
67 × 6 MW ◆
Model
Siemens Swt 6-0-154 ◆
Foundation
Monopile ◆
Site & conditions
Site rights
Seabed rights held ∴
Origination
BARD Holding GmbH · 2009 ◆
Water depth
39–41 m ◆
Distance from shore
95 km ◆
Wind speed
9.9 m/s @ 100 m ≈
Revenue & grid
Offtake
FiT ◇
Grid
Secured · 2017-05 ◆
Connection
TenneT BorWin Beta (BorWin2) HVDC offshore platform via 11.4 km … ◆
Schedule
FID
Jul 2015 ◆
COD
May 2017 ◆
Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2009-08
Party of record at origination
- Awarded to
- BARD Holding GmbH
- Holder
- Cuxhaven Steel Construction GmbH
- Basis
- permit / concession holder
Permit holder: Cuxhaven Steel Construction GmbH — held by BARD Holding GmbH per the record's source 'augusta-bard-veja-mate-sale-2014'. BSH Genehmigung Veja Mate, 31 Aug 2009 — 'Auf den Antrag der Cuxhaven Steel Construction GmbH … vom 03.08.2007 in der Fassung vom 20.10.2008 werden Errichtung und Betrieb von 80 Windenergieanlagen … genehmigt.' (a BARD-group company). Owner: BARD Holding GmbH sold 'its Veja Mate offshore wind project' in 2014; Cuxhaven Steel Construction GmbH is a BARD-group company. The owner is as of the FIRST held document (2014), not asserted for the 2009 grant.
From the auction results — the round that created the project.
Acquisition · 2014-09-11
BARD Holding GmbH → Highland Group Holdings (Laidlaw Capital Group) 100%
- Stake
- 100%
- Consideration
- not disclosed
- Announced
- 2014-09-11
- Closed
- 2014-11
- Project stage
- consented
"Augusta & Co plc acted as exclusive financial adviser to Bard Holding GmbH on the sale of its Veja Mate offshore wind project to Laidlaw Capital Group. The acquisition provisionally closed on 11th September 2014 ... This transaction closed in November 2014" (adviser's transaction note). Highland Group Holdings is Laidlaw's vehicle for the project (it took FID in 2015 with SFS and CIP — next row). Price undisclosed. Written 2026-08-19.
Evidence
From Hafrok’s transactions record
JV entry · 2015-07-01
Highland Group Holdings (Laidlaw Capital Group) → Siemens Financial Services / Copenhagen Infrastructure Partners stake not disclosed
- Stake
- not disclosed
- Consideration
- not disclosed
- Announced
- 2015-07-01
- Closed
- 2015-07
- Project stage
- consented
Highland Group acquired project rights September 2014. Financial close 1 July 2015 with total project cost ~EUR 1.9bn funded by equity consortium (Highland Group, Siemens Financial Services, CIP via CI II fund) plus senior debt. Individual equity stakes not disclosed. CIP as mezzanine/equity provider. Project delivered 2017.
Evidence
- Copenhagen Offshore Partners — Copenhagen Offshore Partners | Important milestone reached only 18 months after financial close ↗ 2017-01 ◆ held
From Hafrok’s transactions record
Divestment · 2019-02
Highland Group Holdings / Siemens Financial Services / CIP → Commerz Real / Ingka Group / KGAL / wpd invest 80%
- Stake
- 80%
- Consideration
- not disclosed
- Announced
- 2019-02
- Closed
- 2019-05
- Project stage
- operational
Consortium (Commerz Real, Ingka Investments, KGAL, wpd invest) acquired 80%. Siemens FS retained 20%. Total transaction volume (equity + project debt) ~EUR 2.3bn; Commerz Real and Ingka each >EUR 200m equity. Project operational.
Evidence
- commerzreal.com — Commerz Real and Ingka Group with over 400-million Euro investment in North-Sea offshore wind farm Veja Mate ↗ 2019-02 ◆ held
From Hafrok’s transactions record
Secondary trade · 2022-07
Siemens Financial Services → Commerz Real / KGAL / Ingka Group 20%
- Stake
- 20%
- Consideration
- €132m
- Implied 100% value
- €660m
- Implied
- €1.64m / MW
- Announced
- 2022-07
- Closed
- 2022-09
- Project stage
- operational
Siemens FS sold remaining 20% to existing shareholders. Commerz Real invested EUR 70m, Ingka EUR 62m; KGAL allocation not public. Combined disclosed equity = EUR 132m for 20%, implying project equity ~EUR 660m. Implied EUR 1.64M/MW is slightly below operational low end (EUR 1.8M). Note: EUR 132m may understate total consideration if KGAL paid separately — treat as floor estimate. Zero-subsidy project (20-30% discount expected vs CfD assets).
Evidence
- Offshore Wind Biz — Siemens Financial Services Sells Its Stake in Veja Mate Offshore Wind Farm ↗ 2022-07-11 ◆ held
From Hafrok’s transactions record
Dashed tick marks today (9 Sep 2026). The teal diamond on the spine is origination — the seabed award or round that created the project. Every other ownership event lives in the band below: one station per recorded deal, dated at its label, in deal order rather than to calendar scale. Secondary trades appear only at the interchanges; grey lines are parties whose entry or exit Hafrok’s record does not hold.
Announced-COD history: 2017-Q2→2017-05 · 2 recorded revisions · held (announced 2017-Q2, unchanged)
Revenue & offtake the regime the project was built under
Offtake regime on record
RegimeEEG 2014 Stauchungsmodell: initial tariff 19.4 ct/kWh for 8 years from commissioning (May 2017), then base tariff 3.90 ct/kWh. Available to offshore wind farms commissioning before 1 January 2020. Generic EEG 2014 rule is confirmed but a project-specific BNetzA MaStR source confirming Veja Mate's Stauchungsmodell election is outstanding.
InstrumentFiT
A built project sells its power under the contract or support regime it was financed with; it is not expected to bid into new government offtake rounds. Where the record does not yet name that regime, the row says so rather than guessing.
Installation how the build is going · from satellite counts and Hafrok’s registers
Satellite survey
the farm as it stands, counted from satellite radar images · built before the count began, so there is no build to chart
Satellite survey
Structures standing68≈67 turbines + 2 platforms expected · 1 fewer than expected — a position the survey missed
Surveyed2026-08-31≈from 115 satellite passes
Built2016-04 → 2017-05offshore construction to start of operation, from the record
Hafrok counts the structures standing in the sea from satellite radar images (≈) and reads the count against the turbines and platforms on record. The farm was built before this count began, so the images show it complete; they cannot date its construction. Rows marked with a dot (·) come from Hafrok’s own registers.
Satellite image
Image taken2026-09-06≈Copernicus Sentinel-1 radar satellite, southbound pass
Farm covered100%≈the whole farm lies inside the image
Structures ringed68 confirmed · 0 not yet confirmed≈as counted on 2026-08-31 · the image is newer than the count, so a bright spot without a ring may be a structure not yet counted
Construction ports
PortEsbjerg ◆·installation · quay 10000 m · crane 300 t · draft 15 m
Contains modified Copernicus Sentinel data 2026, processed by ESA and by Microsoft Planetary Computer.
Latest satellite radar image · 2026-09-06
a radar picture, not a photograph: the sea is dark, steel is bright · black is beyond the edge of the image
confirmed structure (68)seen recently, not yet confirmed (0)probably a substation platform (a larger structure than a turbine; the register above has the facts)farm boundary
Grid connection
from Hafrok’s substation, converter and cable registers
Offshore platforms · 2
Offshore substationVeja Mate Offshore Substation·155 kV · in service 2016 · owner Veja Mate wind farm owners — Highland Group Holdings, Siemens Financial Services and Copenhagen Infrastructure Partners' CI II (farm-owned platform)
HVDC systemBorWin2·800 MW · ±300 kV · in service 2015-01 · shared with Albatros, Deutsche Bucht
Converter supplierSiemens (HVDC PLUS); Prysmian cables·BorWin2 · Nordic Yards, Warnemünde, Germany · for TenneT
Grid connection · ready in time?
when each part of the grid connection is due, against the start date the developer states (black line) · a bar spans the whole year, quarter or month the source gives
installed or in serviceexpected deliveryearlier date that was later moved
Sources & verification
16/18 fields verified · rests on 11 sources (5 primary) · ◆ 6 documents held
◆Verified≈Modelled◇Sourced∴Inferred⌁Convention○Unverified∅No source·Derived
Numbers are stable citation ids — grouped by source class, so they are not consecutive.
Regulator2
[1]
Bundesamt fuer Seeschifffahrt und Hydrographie (BSH)2009-08◆ Genehmigungsbescheid Offshore-Windpark V…
“Hamburg, den 31.08.2009 — Auf den Antrag der Cuxhaven Steel Construction GmbH [...] vom 03.08.2007 in der Fassung vom 20.10.2008 werden Errichtung und Betrieb von 80 Windenergieanlagen (WEA) einschlie…”
supportsConsentWater depthCoordinatesConsent granted
[12]
Bundesnetzagentur — Marktstammdatenregister2026-08-23◆ Marktstammdatenregister (MaStR) offshore…
“Park row "OWP Veja Mate": 67 units, 422.1 MW gross, statuses {'In Betrieb': 67}, operators ['Veja Mate Offshore Project GmbH'], commissioned 2017-01-18..2017-05-31, planned None..None.”
supportsRegister entry
Operator2
[3]
Copenhagen Offshore Partners (COP)2017-01◆ Copenhagen Offshore Partners | Important…
“the first Siemens 6MW wind turbine has started supplying the German electricity grid [...] two months ahead of schedule. [...] Construction started on April 4, 2016, and financial close was reached on…”
supportsOffshore constructionFirst powerSite rightsStatusConnection point+1 more
[4]
Copenhagen Offshore Partners (COP)2017-05-31◆ Copenhagen Offshore Partners | Veja Mate…
“Veja Mate Offshore Wind Farm completes construction in 23 months. 402 MW, 67 units, Siemens SWT-6.0-154 model. Financial Close: July 1, 2015. Construction start: April 4, 2016. Completed in less than …”
supportsCommercial operationCOD historyTurbinesModelUnit capacity+1 more
Trade press7
[2]
[5]
[6]
[7]
[8]
[9]
[10]