CEE Group solar park portfolio grows to 118 MWp in the Netherlands

Hamburg-based CEE Group, asset manager for renewable energy, has acquired a ground-mounted solar park in Roosendaal, the Netherlands, from Danish project developer Obton. The solar park has an output of around 35 megawatt-peak (MWp). This means that the CEE Group now has solar energy plants with a total capacity of 118 MWp in the Netherlands alone. The complete CEE portfolio comprises a total of 42 onshore wind turbines and 34 photovoltaic plants with an installed capacity of 595.2 MW in the wind sector and 551.7 MWp in the solar sector, respectively.

The ground-mounted solar park in Roosendaal, the Netherlands, has a peak output of around 35 MWp and will thus produce around 32,000 megawatt hours of renewable energy per year in the future. The plant is equipped with solar modules from the manufacturer Canadian Solar. Contrary to the usual south orientation, the modules are arranged in an east-west orientation, which has enabled a more compact design of the plant. The inverters are from the Chinese manufacturer Huawei. The purchase agreement with the project developer Obton was already concluded in December 2020. Both parties have agreed not to disclose the purchase price. The plant is scheduled to be commissioned in August 2021. The closing of the transaction, the full handover to CEE Group, took place in September 2021.

Roosendaal is a municipality in the Dutch province of Noord-Brabant. There, the solar park fits well into the surrounding landscape, which is already the site of several wind turbines. From an ecological point of view, it should also be emphasized that extensive landscape compensation measures have been implemented. In addition, part of the area on which the photovoltaic plant is located is used as a water reservoir for groundwater management.

Investment security through stable framework conditions in the Netherlands

“The newly acquired plant in Roosendaal characterizes the CEE Group’s purchasing profile for newly emerging or already completed renewable energy plants. With around 35 MWp, the plant has a scale that makes it economically interesting for investors. In addition, the technological standard in the Netherlands is comparable to that which we find in Germany, for example,” explains Detlef Schreiber, CEO of the CEE Group.

According to Eurostat, the statistical office of the European Union, the Netherlands is one of the EU member states with the lowest share of renewable energies in gross final energy consumption. However, the basic conditions for investments in renewable energies in the Netherlands are good. The SDE+ support system for renewables provides a fixed tariff for at least 15 years and creates the necessary income security. In addition, if a plant falls short of its planned output, the tariff will continue to be paid for the 16th year. The Netherlands is thus one of the few countries still operating with such a state-guaranteed tariff system.

“The Dutch market is extremely competitive due to its good regulatory framework. For project developers, investors and financing banks, these are extremely advantageous, as a cash flow is generated on the part of the projects that is secured by government regulations,” explains Schreiber. In most other markets, such support systems with predictable revenues are often no longer to be found. There, operators of renewable energy plants have to market the electricity they produce via so-called Power Purchase Agreements (PPAs).

Spatial proximity is an important location factor

“Beyond the stable regulatory framework for renewables, spatial proximity is also a factor for us that should not be underestimated when selecting new projects. The Netherlands is within easy reach for us as an investor and operator, so our teams can make regular ‘site visits’ there,” says Schreiber.

“In Roosendaal, we worked with the internationally active project developer and investor Obton for the first time. We would like to thank all those involved in this transaction for their professional and trusting cooperation and look forward to further joint projects to promote the expansion of renewable energies across countries,” Schreiber expresses his thanks.

Anders Marcus, CEO at Obton: “The cooperation and successful closing of our first joint transaction with CEE Group is also a recognition of our special expertise in the development and realization of international solar energy projects. We look forward to further cross-border projects with our new partner.”

Osborne Clarke and Evergy also participated in the transaction as legal and technical advisors, respectively.

About Obton

Obton is a renewable energy specialist investment and management company based in Aarhus, Denmark. Obton represents retail investors and manages a rapidly growing PV portfolio of more than 1 GW worth EUR 1.6 billion. Projects are mainly located in France, Italy, Germany, the UK, Poland, Hungary, Canada, Belgium and the Netherlands.

www.obton.com

About CEE Group

CEE Group is a Hamburg-headquartered asset manager specializing in renewable energy. With assets under management of around €1.9 billion, the company invests in power generation projects in the wind and solar sectors. CEE Group holds onshore wind farms with an installed capacity of around 595,2 MW as well as photovoltaic plants with around 551.7 MWp. CEE portfolio currently consists of a total of 42 onshore wind farms and 34 solar parks. Total electricity generation in 2020 amounted to around 1.4 billion kilowatt hours.

As an internationally operating company, CEE Group offers its customers sustainable investment concepts with long-term return opportunities in the growth market for renewable energies. With its independently operating entities, 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:

Jens Schnoor
Investment Director und Head of Luxembourg Branch, Portfolio Management, der CEE Kapitalverwaltungsgesellschaft mbH Niederlassung Luxemburg
Phone: +49 40 688788 0
E-mail: schnoor@cee-group.de

Franjo Salic

Investment Director
Phone: +49 40 688 788-0
E-mail: salic@cee-group.de

Daniel Rief
Investment Manager
Phone: +49 40 688 788-0
E-mail: rief@cee-group.de

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