Standard Solar Acquires 9.9 MW Solar Project in Texas

CEE Group, a Germany-based asset manager, 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. Ecorus is also the EPC partner for the construction of the solar project.

The signing and closing of the purchase agreement with the project developer Ecorus took place in February 2023. Both parties have agreed not to disclose the purchase price. Commissioning of the plant is planned for February 2024. The electricity will be purchased through the Dutch SDE++ support system for renewable energies and will have a fixed tariff for at least 15 years.

“We have gained a new partner in the Netherlands with Ecorus Group. The Fledderbosch solar park is our first joint transaction, which, with a size of 103.5 MW, represents another important building block in our growing Dutch PV portfolio. The Netherlands plays an important role in our international portfolio of wind power and PV plants,” said Detlef Schreiber, CEO of CEE Group. “We would like to thank Ecorus Group’s Dutch solar experts for the always professional and goal-oriented cooperation at eye level,” adds Franjo Salic, Head of International Investments at CEE Group, about the cooperation.

Philippe Vanhoef, CEO and founder of Ecorus Energy said: “Our goal is to drive the expansion of onsite and offsite solar energy in Europe in the spirit of an international energy transition. A high level of professionalism and expertise characterizes the cooperation with the CEE Group. This is an indispensable basis for the success of the cross-generational task of climate protection and energy security.”

According to Mercom’s Q1 2023 Solar Funding and M&A Report, there were 67 large-scale solar project acquisitions in Q1 2023, compared to 61 transactions in Q4 2022.

France-based oil and gas major company TotalEnergies has recently acquired 208 MW of solar PV projects in Romania from PNE, a solar and wind project developer. PNE will remain responsible for further project development until the ready-to-build stage is achieved. The transaction details were not disclosed.