Siemens Financial Services has sold its remaining 20 per cent ownership in the 402 MW Veja Mate offshore wind farm in Germany to engineering consulting firm KGAL, Commerz Real, and Ingka Group. No financial details have been disclosed. According to KGAL, the investment is a part of the KGAL ESPF IV fund for renewable energy.

Veja Mate has been in operation since 2017 and is located approximately 95 km northwest of the island of Borkum in Germany’s exclusive economic zone in the North Sea. It has a set renewable energy feed-in tariff that will be in effect until 2029 and claims to be the third largest operational offshore wind farm in the country. Veja Mate, which has 67 wind turbines, produces enough clean energy for 450,000 households each year while eliminating 950,000 tonnes of carbon emissions a year.

Under the terms of a full-service agreement, Siemens Gamesa Renewable Energy will manage technical maintenance for the offshore wind facility. The company has until 2032 to provide the facility with full service.