CEE Group concludes financing agreements for three photovoltaic plants in Europe with DAL Deutsche Anlagen-Leasing

Ham­burg-based renew­able ener­gy asset man­ag­er CEE Group and DAL Deutsche Anla­gen-Leas­ing GmbH & Co. KG have signed three financ­ing agree­ments for Euro­pean pho­to­volta­ic projects with a total capac­i­ty of 250 Megawatt peak (MWp). Detlef Schreiber, CEO of CEE Group and Dr. Peer Günzel, Gen­er­al Rep­re­sen­ta­tive of DAL com­plet­ed the offi­cial sign­ing on Sep­tem­ber 27, 2022 dur­ing the inter­na­tion­al trade fair WindEn­er­gy Ham­burg.

The CEE Group has signed three financ­ing agree­ments with DAL Deutsche Anla­gen-Leas­ing GmbH & Co. KG for new open-space pho­to­volta­ic projects in its inter­na­tion­al renew­able ener­gy port­fo­lio. Of the three new open-space pho­to­volta­ic projects, two plants are locat­ed in Spain and one in Ger­many. Due to their geo­graph­i­cal loca­tion, the Span­ish sites have excel­lent con­di­tions for the con­struc­tion and oper­a­tion of open-space solar parks. The open- space solar parks in Castil­la La Man­cha and near the Span­ish city of Cuen­ca will each deliv­er an out­put of 50 MWp. The large-scale plant in Döllen, Bran­den­burg, is designed for 154 MWp and was financed by DAL with its con­sor­tium part­ners Sparkasse Ober­hessen and Sparkasse Han­nover. Both par­ties, CEE-Group and DAL, have agreed not to dis­close fur­ther details of the trans­ac­tion.

“The clos­ing of the three financ­ings rep­re­sents a mile­stone in the coop­er­a­tion between our two hous­es. The coop­er­a­tion in the acqui­si­tion of the three new solar parks makes an impor­tant con­tri­bu­tion to our goal of fur­ther expand­ing renew­able ener­gies in Europe in line with the cli­mate pro­tec­tion goals of the Inter­gov­ern­men­tal Pan­el on Cli­mate Change”, explains Detlef Schreiber, CEO of CEE Group.

“The financ­ing of such pho­to­volta­ic projects, which are nec­es­sary for the pro­tec­tion of the cli­mate, is par­tic­u­lar­ly near and dear to our hearts. Here, the goals of return-ori­ent­ed invest­ment and sus­tain­able trade mesh per­fect­ly”, explains Dr. Peer Günzel, Chief Rep­re­sen­ta­tive of DAL.

CEE Group wants to exploit growth potential of the European photovoltaic market

Regard­ing the three financed plants in Spain and Ger­many, Schreiber explains: “The Span­ish mar­ket has been show­ing strong growth again for sev­er­al years, after a tem­po­rary slump due to reg­u­la­to­ry changes on the part of politi­cians. In the mean­time, there is again a clear com­mit­ment, also on the part of Span­ish pol­i­tics, to the expan­sion of renew­able ener­gies and Spain is striv­ing for a com­plete con­ver­sion to renew­able elec­tric­i­ty by the year 2050. With the two Span­ish projects, we have cre­at­ed the basis for exploit­ing excit­ing oppor­tu­ni­ties in this growth mar­ket for our investors in the com­ing years. A mile­stone in the ener­gy tran­si­tion in Ger­many is defined by the solar park under con­struc­tion in Döllen. With a nom­i­nal out­put of 154 MWp, it will sup­ply around 150,000 megawatt hours of ‘green elec­tric­i­ty’ to the grid per year in the future.”

The growth poten­tial in the Euro­pean pho­to­volta­ic (PV) mar­kets is illus­trat­ed by fig­ures from the Ger­man Fed­er­al Min­istry for Eco­nom­ic Affairs and Cli­mate Pro­tec­tion: Of the total of almost 136.6 gigawatts of installed pho­to­volta­ic capac­i­ty in the 27 EU coun­tries, 53.8 gigawatts were installed in Ger­many alone at the end of 2020. Italy (21.6 gigawatts), Spain (11.8 gigawatts), and France (11.7 gigawatts) fol­low at a con­sid­er­able dis­tance. Spain has excel­lent solar poten­tial due to its geo­graph­ic and cli­mat­ic con­di­tions: Accord­ing to Sta­tista, the aver­age num­ber of hours of sun­shine per day is nev­er less than 5 hours in any month and even reach­es over 10 hours per day in the mid­dle of the year. These excel­lent site con­di­tions, togeth­er with over­all low­er prime costs for pho­to­volta­ic plants, ensure that the ener­gy from PV plants can be sold com­pet­i­tive­ly on the elec­tric­i­ty mar­ket, for exam­ple based on pow­er pur­chase agree­ments (PPA).
“The financ­ing of large PV plants is always a spe­cial chal­lenge. We would there­fore like to thank our part­ner DALDeutsche Anla­gen-Leas­ing even more for the very pro­fes­sion­al struc­tur­ing and arrang­ing of the projects and the extreme­ly trust­ing coop­er­a­tion. We are sure that we will work togeth­er on fur­ther projects to pro­mote the impor­tant expan­sion of renew­able ener­gies across nation­al bor­ders”, says Schreiber.