CEE Group, a Hamburg-based asset manager specialized in renewable energies, acquired a solar PV project in the German district Börde in Saxony-Anhalt for its two investment funds, CEE Renewable Fund 7 and CEE Renewable Fund 8 (CEE RF7 and CEE RF8). Construction of the asset began in September 2024, with operations scheduled to start in April 2025. With a installed capacity of 102 MWp, the solar PV park will provide enough energy to supply around 47,500 households with green energy in the future. The seller of the project is Sunovis, a German project developer that has been developing solar projects in Germany for over 10 years. 80 percent of the energy generated is sold at an attractive fixed price under a 20-year PPA that has already been concluded.
CEE Group expands portfolio in Germany Detlef Schreiber, CEO of the CEE Group, says: “With the purchase of the Klüden solar PV park in Saxony-Anhalt, we were able to secure another attractive project for our renewable energy funds. Through the 20-year corporate PPA, we are selling 80 percent of the energy generated at a lucrative fixed price, allowing our investors to benefit from a long-term stable and predictable cash flow. We would like to thank our partners with whom we realize such high-yield assets.”
Taylor Wessing was involved in the transaction as legal and KYC/ABC advisor and Evergy as technical advisor. The project is being financed by DAL Deutsche Anlagen-Leasing (DAL) together with Nord/LB. CEE Group has already worked successfully with both banks in the past.
New CEE RF8 fund also invests in hybridisation projects The investment in Klüden expands the portfolios of the two funds, CEE RF7 and CEE RF8. The funds, launched as special AIFs (SICAV-RAIFs) in Luxembourg, invest primarily in wind and solar PV assets in the European core markets. In February 2022, CEE Group announced the closing of the CEE RF7. CEE Group launched CEE RF8 as a successor fund at the end of 2023. RF8 is building a broadly diversified portfolio of renewable energy projects. The fund also participates in the hybridization of CEE Group`s legacy portfolio. This allows institutional investors to invest in energy transition with impact and secure robust long-term yield potential.
The solar PV park in Klüden is already the fourth asset of the RF8 closed-end alternative investment fund (AIF), which celebrated its first closing this summer.
The CEE Group currently has 47 onshore wind farms with an installed capacity of 667 MW and 57 photovoltaic projects with 1.5 GWp in Europe.
