Vargronn has agreed to acquire a stake in the 288-MW Baltic 2 offshore wind farm from PGGM Infrastructure Fund, positioning itself strategically within Germany's growing offshore wind sector.
Post-acquisition, EnBW and Vargronn will hold 50.1% and 27.4% of the project, respectively, with EnBW maintaining responsibility for operations and maintenance. The German pension fund Arzteversorgung Westfalen-Lippe will retain its 22.5% indirect stake.
Located 32 km north of the Island of Rügen in the German Baltic Sea, the Baltic 2 wind farm began operations in September 2015 and features 80 Siemens 3.6-MW turbines.
This investment allows Vargronn to gain hands-on operational experience in offshore wind management, complementing its existing portfolio of development and construction projects.
The acquisition also marks Vargronn's entry into the German offshore wind market, which is focused on reaching 30 GW of installed offshore capacity by 2030 amid strong energy demand. Vargronn CEO Stephen Bull expressed the company's enthusiasm, stating, “Vargronn is pleased to enter Germany, one of the world's largest offshore wind markets. This transaction provides Vargronn with a significant platform for further growth and important operational insight in a new market.”
