CEE Group, a renewable energy asset management firm, announced the acquisition of a 102.5 MW solar PV project in San Pedro del Pinatar in Murcia, a region in southern Spain, with its CEE Renewable Fund 8 (CEE RF8).
The project is currently under construction and will be connected to the grid in the second half of 2025.
The seller is a European corporation specializing in developing, constructing, and operating renewable energy projects. The newly acquired solar project is the second transaction for the CEE RF8, which launched at the end of 2023.
“Murcia offers excellent conditions for photovoltaic projects. Through the acquisition of the Project in Pinatar, we achieved a lucrative addition to our CEE RF8 fund. Together with the PV park acquired in January in Stüdenitz Schönermark in Brandenburg, the solar park in San Pedro del Pinatar forms a good basis for the fund and ensures attractive long-term returns for our investors,” Detlef Schreiber, CEO of the CEE Group, explains.
Last year, CEE Group acquired a 103.5 MW ground-mounted solar project in the province of Groningen, the Netherlands, from Ecorus Group, a solar project developer. The project is currently under construction, and Ecorus is also the EPC partner.
According to Mercom’s recently released 1H and Q2 2024 Solar Funding and M&A report, 113 solar project acquisitions totaling 18.5 GW were transacted in the first half of 2024, compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
This week, Emeren Group, a solar project developer, also announced the sale of a 42 MW ready-to-build solar project portfolio in Spain to CVE España, part of CVE, a French independent power producer (IPP). The portfolio comprises eight greenfield projects with capacities ranging from 5 MW to 6 MW.
