Germany

Germany

Laidlaw Group acquires Veja Mate

GERMANY: UK Investment firm Laidlaw Capital Group has acquired the 400MW Veja Mate offshore project in the North Sea from Bard for an undisclosed fee.

Veja Mate is due to be connected to the BorWin Beta substation
Veja Mate is due to be connected to the BorWin Beta substation

A statement from CMS Hasche Sigle, which advised Laidlaw on the acquisition, said the project would use up to 72 turbines.

This would indicate a 5.5MW turbine, although the only machine of this size is the AMSC design manufactured by Dongfand and Hyundai.

Veja Mate is located 129 kilometres offshore in the German North Sea.

Financial details have not yet been released.

In August, the German federal maritime and hydrographic agency extended deadline for a second time to 1 August 2016. It was first granted construction permit in 2009.

It is believed the new permit includes discrete milestones for the project, such as submitting a design.

Veja Mate is also due to be connected to the BorWin2 platform. This is problematic because the permitted route for the two cable systems from the Veja Mate transformer station to the BorWin 2 converter station are to run through Bard Offshore 1.

The structural works for the six cable crossings, and for future service and maintenance of these Veja Mate cables, could compromise the integrity of Bard Offshore 1 and its cabling.

Law firm CMS Hasche Sigle, which advised Laidlaw on the acquisition, said the investment firm had previously acquired the nearby 210MW Deutsche Bucht offshore project.

Bard is 85%-owned by a Hamburg-based Treuhandgesellschaft (trust company) and 15% by a family member of company founder Arngolt Bekker.

 

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