CEE Group sells UK PV portfolio to Greencoat Solar

Ger­man asset man­ag­er CEE Group com­plet­ed the sale of its port­fo­lio of three solar farms in the UK to Green­coat Solar Assets II at the end of 2018. The port­fo­lio has a total capac­i­ty of 60.4 megawatts, tak­ing Green­coat Solar’s aggre­gate installed capac­i­ty above 600MW.

CEE Group acquired the Bices­ter PV farm in 2014 and the Aston Clin­ton and Home­stead PV farms in 2015 from Bay­Wa who orig­i­nal­ly devel­oped the sites. The port­fo­lio has demon­strat­ed strong oper­a­tional per­for­mance through­out CEE’s own­er­ship, and CEE will con­tin­ue to man­age the three solar farms on behalf of Green­coat.

Detlef Schreiber, CEO, CEE Group said “We are pleased with the sale of our UK solar port­fo­lio to Green­coat, an expe­ri­enced own­er and oper­a­tor of solar assets. The sale is in line with CEE’s strate­gic objec­tive of refo­cus­ing on our core busi­ness in Ger­many and France and expand­ing into new con­ti­nen­tal Euro­pean mar­kets. We look for­ward to announc­ing fur­ther devel­op­ments as they arise.”

Lee Moscov­itch, Part­ner at Green­coat Cap­i­tal, invest­ment advi­sor to Green­coat Solar Assets II, said: “We are delight­ed to acquire CEE’s high-qual­i­ty assets, adding three more solar parks of sig­nif­i­cant size to our grow­ing port­fo­lio, and tak­ing our installed capac­i­ty to more than 600MW. The vis­i­ble pipeline of assets remains strong, and we remain very con­fi­dent in the sig­nif­i­cant aggre­ga­tion oppor­tu­ni­ty in UK solar.”

CEE Group was advised by Nor­ton Rose Ful­bright.

Green­coat was advised by Ever­gy Engi­neer­ing and Wat­son Far­ley & Williams.

CEE Group

The CEE Group, which is head­quar­tered in Ham­burg, is a pri­vate equi­ty group that spe­cial­izes in invest­ing in phys­i­cal assets and man­ages assets of approx­i­mate­ly EUR 1.4 bil­lion. CEE invests in ener­gy gen­er­a­tion projects in wind and solar PV. CEE Group’s investors are insti­tu­tion­al investors with a long-term inter­est in the mar­ket for invest­ments in renew­ables and phys­i­cal assets. CEE Group was acquired by Brook­field Asset Man­age­ment in 2017.

About Green­coat Cap­i­tal

Green­coat Cap­i­tal LLP is a spe­cial­ist asset man­ag­er ded­i­cat­ed to the resource effi­cien­cy and renew­able ener­gy sec­tors. It has offices in Lon­don and Dublin and more than £3bn under man­age­ment, mak­ing it one of the largest such fund man­agers in Europe. It was found­ed in 2009 and cur­rent­ly has fund man­dates with seg­re­gat­ed strate­gies in wind infra­struc­ture, solar infra­struc­ture and pri­vate equi­ty.

 

 

About Green­coat Solar

Green­coat Solar is a plat­form with­in Green­coat Cap­i­tal man­ag­ing two funds (Green­coat Solar I LP and Green­coat Solar II LP) with in excess of £1.2 bil­lion in com­mit­ments. Green­coat Solar owns and oper­ates ground mount solar PV gen­er­a­tion assets which pro­vide a robust, infla­tion-linked income to investors. Acqui­si­tions are made with long-term invest­ment hori­zons. Green­coat Solar funds cur­rent­ly own over 600MW of gen­er­a­tion capac­i­ty across 78 projects around the UK.

Press con­tacts:   CEE Group: Alexan­der Sti­er Pub­lic Rela­tions / Mar­ket­ing +49 40 688 788–62 stier@cee-group.de www.cee-group.de Green­coat Cap­i­tal: Tom Rayn­er +44 20 7832 9400 tom.rayner@greencoat-capital.com www.greencoat-capital.com/