CEE Group, a Hamburg-based renewable energy asset management firm, announced the acquisition of the 102 MW Klüden solar project in the Börde district in Saxony-Anhalt, Germany from Sunovis, a Germany-based solar project developer.
The construction of the solar project already began in September 2024, with commercial operation expected in April 2025. Once operational, the project is expected to generate enough clean electricity to supply around 47,500 households.
Additionally, 80% of the electricity generated will be sold under a 20-year power purchase agreement, which has already been concluded.
The company acquired the project for its two investment funds, CEE Renewable Fund 7 and CEE Renewable Fund 8. Taylor Wessing served as legal advisor, while Evergy acted as technical advisor on the transaction. DAL Deutsche Anlagen-Leasing, along with Nord/LB, financed the project.
Detlef Schreiber, CEO of the CEE Group, says, “With the purchase of the Klüden solar PV park in Saxony-Anhalt, we were able to secure another attractive project for our renewable energy funds. Through the 20-year corporate PPA, we are selling 80 percent of the energy generated at a lucrative fixed price, allowing our investors to benefit from a long-term stable and predictable cash flow. We would like to thank our partners with whom we realize such high-yield assets.”
Currently, the company has 57 solar projects with an installed capacity of 1.5 GWp and 47 onshore wind projects with 667 MW in Europe.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, 166 project acquisitions totaling 28.3 GW were transacted in 9M 2024 compared to the same number of project acquisitions totaling 31.6 GW in 9M 2023.
In July, CEE Group also 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.
