The CEE Group, a Hamburg-based asset manager specializing in renewable energies, has acquired a photovoltaic (PV) project in Brandenburg from project developer Chint Solar. The solar park is being built in the municipality of Stüdenitz Schönermark (Ostprignitz-Ruppin district), 85 kilometers northwest of Berlin. A PV project with around 130,000 solar modules and a total nominal output of 80.9 MWp is being built here on a total area of 77 hectares. Construction is scheduled to begin in January 2024, with full commissioning expected at the end of the year. A guaranteed EEG remuneration with a term of 20 years has already been secured for 81 percent of the electricity produced from then on.
With the newly acquired project, the CEE Group is not only expanding its portfolio in this region but is also completing the first transaction for the CEE Renewable Fund 8 (CEE RF8 for short), which was only launched at the end of 2023. The closed-end alternative investment fund (AIF) was launched exclusively for institutional investors. The fund will hold a 55 percent stake in the solar park, while the company manages a further 45 percent as an individual mandate for an institutional investor.
Cornerstone for the portfolio of the new CEE Renewable Fund 8
“The solar park in Schönermark is a highly attractive project for us with its total capacity and guaranteed long-term EEG remuneration and forms a very good foundation for the RF8 fund portfolio, which we will build on in the coming weeks and months,” explains Detlef Schreiber, CEO of the CEE Group.Oliver Schweininger, CEO of Chint Solar Europe and board member of the German Solar Industry Association, comments: “PVA Schönermark Süd is the first project in the implementation phase of Chint Solar’s project pipeline in Germany. We are proud to be able to make an important contribution to the energy transition with this solar park in partnership with the CEE Group.”
Taylor Wessing, Evergy and Baker Tilly were involved in this transaction as advisors. The CEE Group currently has 46 onshore wind farms with an installed capacity of 655 MW and 49 photovoltaic projects with 1,006 MWp in Europe. With its funds, the company creates opportunities for institutional investors to invest in the energy transition and actively drive it forward.
