Vårgrønn, a joint venture between Plenitude, company controlled by Eni, and the Norwegian energy entrepreneur and investor HitecVision, has completed the acquisition of 100% of Dutch PGGM Infrastructure Fund’s shares in the 288 MW Baltic 2 offshore wind farm.
Vårgrønn announced that it had entered into an agreement to acquire a 27.4% stake in the Baltic 2 offshore wind farm which has officially been placed into operation in September 2015, from PGGM Infrastructure Fund last November. With all necessary approvals received and all conditions fulfilled, Vårgrønn has now completed the acquisition.
The German energy company EnBW and Vårgrønn now respectively own 50.1% and 27.4% of the offshore wind farm, located 34 km off the Island of Ruegen in the Baltic Sea, with EnBW managing operations and maintenance activities. Ärzteversorgung Westfalen-Lippe, the largest pension fund in Germany, will retain the remaining 22.5% indirect stake in Baltic 2.
“This acquisition represents an important part of a broader growth strategy and provides Vårgrønn with operational insights. We are very pleased to have closed this acquisition and look forward to start working together with our new partners”, says Stephen Bull, CEO of Vårgrønn. Source: Vårgrønn Image: PGGM / EnBW
