The CEE Group, a Hamburg-based asset manager specializing in renewable energies, acquires a PV project in San Pedro del Pinatar in the Region of Murcia, in southern Spain, with its newly launched CEE Renewable Fund 8 (CEE RF8 for short). The solar park with a total peak capacity of 102.5 MWp is currently in the construction phase and is scheduled to be connected to the grid in the second half of 2025. The seller and EPC contractor is a European corporation with vast experience in the development, construction, and operation of renewable energy facilities. In 2021 the CEE Group had already acquired a 50 MWp PV project in Villanueva from the same company which will also operate the plant for an initial period of five years.
With 346 hours of sunshine per month, Murcia is one of the sunniest regions in Spain. This makes the region a lucrative location for photovoltaic projects. At full capacity, the solar park in San Pedro del Pinatar can supply 47,500 households with green energy. The project will rely on a Power Purchase Agreement (PPA) for the sale of the produced electricity.
New CEE RF8 fund also invests in hybridization projects
The newly acquired project is already the second transaction for the CEE RF 8 which was launched at the end of 2023. The closed-end alternative investment fund (AIF) with a planned volume of EUR 750 million will invest specifically in hybridization projects in addition to wind and solar parks and storage technology. Mainly, existing wind farms from the CEE Group’s existing portfolio will be expanded to include additional PV systems and storage solutions. The fund meets the requirements of Article 9 of the EU Taxonomy and has been specially tailored to the needs of institutional investors.
PV investment in Spain ensures lucrative long-term returns
“Murcia offers excellent conditions for photovoltaic projects. Through the acquisition of the Project in Pinatar, we achieved a lucrative addition to our CEE RF8 fund. Together with the PV park acquired in January in Stüdenitz Schönermark in Brandenburg, the solar park in San Pedro del Pinatar forms a good basis for the fund and ensures attractive long-term returns for our investors,” Detlef Schreiber, CEO of the CEE Group, explains. “I am also delighted that we have been able to strengthen our relationship with one of our Spanish partners, with whom we have now concluded our second successful transaction.”
The CEE Group currently has 47 onshore wind farms with an installed capacity of 655 MWp and over 54 photovoltaic projects with 1.2 GWp in Europe. With its funds, the company creates opportunities for institutional investors to invest in the energy transition with impact and actively drive it forward.
