SOWITEC Sells 570 MW of Solar Projects in Mexico

CEE Group, a German-based asset manager, acquired a 53 MW solar project in the Netherlands from BayWa r.e., a subsidiary of Munich-based BayWa. The Venekoten/Oosterwolde ground-mounted solar project is in the north of the Netherlands. Rabobank acted as the financing bank for this transaction.

The project was completed and commissioned in September 2020 with a nominal output of around 53 MW. It has mono facial modules from manufacturers Hanwha Q.Cells and Chint Astronergy. The modules are firmly elevated on the substructure.

“We are pleased about the sale of this high-quality PV project to the CEE Group. Our two companies are linked by a long-standing, highly cooperative partnership, in the course of which we have already been able to implement several large-scale PV projects together. With regard to the international climate targets, these projects make an important contribution,” explains Matthias Taft, CEO of BayWa r.e.

“We have been working in partnership with our project partner BayWa r.e. for many years. Our collaboration is characterized by an exceptionally high level of professionalism, a great willingness to cooperate, and mutual trust. We appreciate BayWa r.e.’s high-quality standards, both in terms of project development and technical implementation,” explains Detlef Schreiber, CEO of the CEE Group. Franjo Salic, Head of International Investments, adds: “On behalf of our entire team, I would like to thank everyone involved, both on the seller side and on the CEE Group side, for the excellent cooperation.”

In December 2022, CEE Group acquired 44 MW of solar park in the Netherlands from the Denmark-based solar project developer Obton. The solar project is situated on around 36 hectares in Harderwold, in the central Netherlands, and is associated with annual electricity production of about 45.1 GWh. The project is expected to be commissioned by December 31, 2022. The transaction was supported by financing from Rabobank. Neither of the parties disclosed the purchase price.

According to Mercom Annual and Q4 2022 Solar Funding and M&A report, 268 large-scale solar project acquisitions were recorded in 2022 compared to 280 in 2021. In 2022, about 66 GW of solar projects were acquired, with project developers acquiring the most, reaching 35.7 GW.