CEE Group acquires another wind farm with a capacity of 27.6 MW

CEE, the Ham­burg-based pri­vate equi­ty group, con­tin­ues to expand its wind pow­er port­fo­lio in Ger­many. It has acquired eight wind tur­bines in the Vor­mark wind farm near to the munic­i­pal­i­ty Gross Pankow (Prig­nitz) in Bran­den­burg. The sell­er is a con­sor­tium con­sist­ing of the Dan­ish com­pa­ny Euro­pean Ener­gy A/S and the Berlin-based Green Wind Ener­gy GmbH.

The wind farm con­sists of eight tur­bines (type Ves­tas V126, 3.45 MW). The hub height is 137 m, the rotor diam­e­ter is 126 m, and the over­all capac­i­ty of the wind farm amounts to 27.6 megawatts (MW). The tur­bines, which were com­mis­sioned on time in Feb­ru­ary and March, will sup­ply envi­ron­men­tal­ly friend­ly pow­er to about 21,000 house­holds a year. CEE Oper­a­tions, which man­ages the CEE Group’s pow­er plant port­fo­lio, is respon­si­ble for the com­mer­cial oper­a­tions. Green Wind Oper­a­tions GmbH, a sis­ter com­pa­ny of Green Wind Ener­gy GmbH, will assume respon­si­bil­i­ty for tech­ni­cal oper­a­tions.

Detlef Schreiber, the CEE Group’s CEO, says: “We are pleased to have grown fur­ther in our core Ger­man mar­ket by acquir­ing the Vor­mark wind farm. After the acqui­si­tion of the Gol­len­berg wind farm a few months ago, this renewed expan­sion of our over­all port­fo­lio under­lines the CEE Group’s strong posi­tion in a com­pet­i­tive mar­ket.” Jens Schnoor, the respon­si­ble Invest­ment Direc­tor of CEE Man­age­ment, empha­sis­es: “To acquire a wind project of this size in the cur­rent mar­ket envi­ron­ment is a very pos­i­tive start to 2017 for our investors and for us. We hope that this first trans­ac­tion with Euro­pean Ener­gy A/S and Green Wind Ener­gy marks the begin­ning of a longer peri­od of col­lab­o­ra­tion.”

Mar­tin Kühl, Man­ag­ing Direc­tor of Green Wind Ener­gy GmbH, as the project devel­op­er of the wind farm, empha­sis­es: “We are focus­ing increas­ing­ly on the repow­er­ing of old tur­bines and in Gross Pankow we have dou­bled the MW capac­i­ty by deploy­ing new, high­ly effi­cient tur­bines. Green Wind, togeth­er with Euro­pean Ener­gy, has found a strong part­ner in the CEE Group, which pur­sues a sus­tain­able ener­gy pol­i­cy. In our view, repow­er­ing will also play a sig­nif­i­cant role in this con­nec­tion even after the intro­duc­tion of the new Renew­able Ener­gies Act (EEG).”

Knud Erik Ander­sen, Man­ag­ing Direc­tor and main share­hold­er of Euro­pean Ener­gy A/S stress­es: “With the suc­cess­ful imple­men­ta­tion of the project in Vor­mark we were once again able to demon­strate our exper­tise in the Ger­man mar­ket as one of our core mar­kets. In addi­tion, the project tes­ti­fies to our exper­tise in the field of repow­er­ing. We are pleased to col­lab­o­rate with expe­ri­enced part­ners such as the CEE Group and Green Wind Ener­gy and also see new oppor­tu­ni­ties for coop­er­a­tion in the future.”

Fol­low­ing the acqui­si­tion of the Vor­mark wind farm, the CEE Group’s renew­ables port­fo­lio has grown to about 585 MW. In 2017, CEE’s ener­gy parks will prob­a­bly gen­er­ate around 920,000 megawatt hours (MWh) of elec­tric­i­ty from renew­able sources.

Project Part­ners:
Legal/Tax Due Dili­gence: Tay­lor Wess­ing
Tech­ni­cal Advice: TÜV SÜD
Finance Part­ner: HSH Nord­bank AG
Tech­ni­cal Oper­a­tor: Green Wind Oper­a­tions GmbH
Com­mer­cial Oper­a­tor: CEE Oper­a­tions GmbH

Cor­po­rate enquiries CEE Group:
Jens Schnoor
Invest­ment Direc­tor
Tel: +49 40 688 788–58
Email: schnoor@cee-group.de

Press enquiries CEE Group:
Alexan­der Sti­er
Press / Mar­ket­ing
Tel: +49 40 688 788–62
Email: stier@lampe-equity.de