Vårgrønn completes Baltic 2 stake acquisition

Posted on 08 January 2025

Vårgrønn completes Baltic 2 stake acquisition
The company now owns a 27.4% share in the 288MW German offshore wind farm

Vårgrønn, a JV between Plenitude and the Norwegian energy entrepreneur and investor HitecVision, has completed the acquisition of 100% of PGGM Infrastructure Fund’s shares in the 288MW Baltic 2 offshore wind farm.

The German energy company EnBW and Vårgrønn now respectively own 50.1% and 27.4% of the German offshore wind farm (pictured), 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.

Stephen Bull, chief executive of Vårgrønn, said: "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." 

Source: reNews (https://renews.biz/98010/vaargroenn-completes-baltic-2-stake-acquisition/)

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