CEE Group realizes financing for one of the currently largest solar parks in Germany seated in Döllen with DAL and ENGIE
The Hamburg-based CEE Group, asset manager for renewable energies, has worked with DAL Deutsche Anlagen-Leasing GmbH & Co. KG to implement the financing for a PPA-based solar project in Döllen, Brandenburg. The PPA partner is the globally active ENGIE Group. The Döllen solar park is one of the largest ground-mounted PV parks in Germany. With around 280,000 modules, it will have a peak output of 154.4 megawatts peak (MWp) when completed.
With the support of this project, DAL is expanding its position as an innovation leader in PPA structures. It is financing the Döllen solar park through Deutsche Leasing Finance as lead manager with the consortium partners Sparkasse Oberhessen and Sparkasse Hannover based on a long-term power purchase agreement (PPA). By combining long-term funds from the Kreditanstalt für Wiederaufbau (KfW) with Sparkasse loans, the optimal structure for project financing was achieved.
The PPA contract with the international energy supply company ENGIE has a term of 10 years. ENGIE has been one of the world’s leading providers of power purchase agreements from wind and photovoltaic plants for many years. At the interface between energy producers and energy buyers, the company structures its products to precisely fit the needs of companies that want to use Power Purchase Agreements to achieve their climate goals. Once completed, the Döllen solar farm will supply around 160,000 megawatt hours of “green electricity” per year – equivalent to the consumption of a medium-sized small town with around 64,000 households. Construction of the PV project began in May 2022. Commissioning of this milestone project for sustainable energy generation is scheduled for the first half of 2023.
Milestone project of the energy turnaround realized with experienced partners
Dr. Peer Günzel, Head of Sales Infrastructure & Utilities, DAL: “We are pleased to have been able to support our client CEE Group in this exciting major project and to contribute our expertise in PPA-based financing. We want to expand our market-leading position, also as a competence center of the Sparkassen-Finanzgruppe for sustainable energy projects. From there, we look forward to further exciting projects in this segment with strong partners like CEE Group.”
Katrin Fuhrmann, Head of Origination at ENGIE: “We are pleased to take another step towards climate neutrality together with CEE Group and DAL. Our partnership approach has enabled us to advance the market integration of renewables even in an extremely volatile market environment characterized by regulatory uncertainties.”
Antje Gruber, Senior Project Manager, DAL: “Managing such a mega project in times of supply chain issues and dislocations in the electricity markets was a real challenge. Many thanks for the very professional and trustful cooperation to the project team of CEE Group and their partners antlike Solar, Goldbeck Solar AG and the module supplier Chint Solar. We would also like to thank Sparkasse Oberhessen and Sparkasse Hannover, on whom we could once again rely in a proven partnership and who completed the bank consortium.”
Detlef Schreiber, CEO of the CEE Group: “The new solar park at the Döllen site impresses with a nominal output of over 154 MWp and at the same time illustrates in this dimension the potential of renewable energies as a central building block of the energy transition. This is indispensable for climate protection and, in view of geopolitical uncertainties, also contributes to energy sovereignty. We are pleased to be able to successfully realize this milestone project, the largest in our portfolio, with the support of our experienced partners DAL and ENGIE in a very cooperative manner.”
DAL is one of the leading specialists in the realization of large-volume, asset-based investment projects, with an accompanied transaction volume of more than EUR 2.4 billion per year. As the energy competence center of the savings banks, DAL gives its customers access to the financing power of a strong and reliable financial group. DAL structures and arranges the financing of PPA projects in Germany and selected European countries.
Further information: www.dal.de
Our Group is a global reference in low-carbon energy and services. Together with our 101,500 employees, customers, partners and stakeholders, we are committed to accelerating the transition to a carbon neutral world by reducing energy consumption and providing greener solutions. Inspired by our corporate purpose (“raison d’être”), we balance economic performance with a positive impact on people and the planet by building on our core businesses (gas, renewables, services) to offer competitive solutions to our customers. Our revenue in 2021 was 57.9 billion euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is included in the main financial indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and nonfinancial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris – World 120, Eurozone 120, Europe 120, France 20,CAC 40 Governance).
Further information: www.engie-deutschland.de
About CEE Group:
CEE Group is a Hamburg-based asset manager specializing in renewable energy. With a track record of over 90 transactions in the renewable energy sector and a portfolio of over 2.3 billion Euros in assets under management, CEE is a competent and reliable partner. Since its inception, CEE’s main focus has been on wind and solar energy. The CEE Group has 45 onshore wind power plants with an installed capacity of around 636 MW and photovoltaic plants with around 891 MWp. The total capacity thus amounts to around 1.527 billion kilowatt hours. (Data as of December 2022)
As an internationally operating company, the CEE Group offers its customers sustainable investment concepts with long-term return opportunities in the growth market for renewable energies. With its independently operating companies, the company has a comprehensive range of services for projects in this segment. Investors are in particular institutional investors with a long-term interest in renewable energies.
For questions and further information:
Division Manager Head of Staff & Control
Phone: +49 6131 804-1100
Division Manager Corporate Communications
Phone: +49 30 915810-250
Contact CEE Group:
Phone.: +49 40 688 788-0