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THEE and CEE Group Form 500 MW Large-Scale Subsidy-free Solar PV Cooperation

Thü­ga Erneuer­bare Energien GmbH & Co. KG (THEE) and the CEE Group (CEE), both based in Ham­burg, have announced today that they have signed a mem­o­ran­dum of under­stand­ing to joint­ly oper­ate large-scale pho­to­volta­ic plants in Ger­many with­out sub­si­dies. The strength and exper­tise of both groups will be used to cre­ate syn­er­gies.

THEE, the devel­op­ment and invest­ment plat­form of the Thü­ga Group in the field of renew­able ener­gies, has access to suit­able sites in sev­er­al Ger­man fed­er­al states and brings plan­ning and ener­gy man­age­ment exper­tise as well as oper­a­tor know-how to the coop­er­a­tion. The Thü­ga Group, the largest net­work of munic­i­pal util­i­ties in Ger­many, is the pre­ferred part­ner to pro­vide long-term pow­er pur­chase agree­ments.

Thomas Walther, Man­ag­ing Direc­tor of THEE said: “Solar ener­gy is the tech­nol­o­gy of choice when it comes to imple­ment­ing the first sub­sidy-free large-scale pho­to­volta­ic projects in Ger­many with long-term pow­er pur­chase agree­ments, due to the very low pro­duc­tion costs. In this con­text we are very pleased that we have found in CEE a finan­cial­ly strong and very expe­ri­enced part­ner in the field of large-scale pho­to­volta­ic plants.”

Klaus-Peter Lehmann, Man­ag­ing Direc­tor of THEE’s project devel­op­ment com­pa­ny, adds: “Our devel­op­ment port­fo­lio is fed by projects from coop­er­a­tion part­ners, but also by our own project devel­op­ment approach­es, which we push for­ward, for exam­ple, at the loca­tions of our wind farms and along our exist­ing elec­tric­i­ty cable net­work.”

CEE is one of the most active Ger­man investors in renew­able ener­gy, invest­ing pri­mar­i­ly in wind and solar assets across con­ti­nen­tal Europe. CEE has a long track record of acquir­ing, oper­at­ing, main­tain­ing and repow­er­ing large-scale pho­to­volta­ic plants across mul­ti­ple mar­kets. In addi­tion to its sig­nif­i­cant mar­ket posi­tion in the pur­chase of PV mod­ules and invert­ers, CEE will con­tribute cap­i­tal, financ­ing exper­tise and inter­na­tion­al mar­ket and trans­ac­tion knowl­edge to the part­ner­ship.

Dr. Björn Keßel, Direc­tor of Busi­ness Devel­op­ment at CEE, com­ment­ed: “In the con­text of the ener­gy tran­si­tion (Energiewende), it is remark­able that large-scale pho­to­volta­ic plants can now be oper­at­ed in Ger­many sole­ly on the basis of long-term pow­er pur­chase agree­ments, with­out sub­si­dies. We are pleased to have found in THEE a strong part­ner with com­ple­men­tary strengths includ­ing project devel­op­ment exper­tise and access to pow­er pur­chase agree­ments.”

Dr. Keßel con­tin­ued: “As an asset man­ag­er which is active across Europe, CEE has gained valu­able expe­ri­ence in the oper­a­tion and opti­miza­tion of large-scale pho­to­volta­ic plants and has devel­oped effi­cient strate­gies to opti­mize per­for­mance over the entire oper­a­tional life cycle of the plant.”

Over the com­ing years, THEE and CEE plan to joint­ly real­ize and oper­ate sev­er­al large-scale pho­to­volta­ic plants with a total capac­i­ty of 500 MW in Ger­many. Cor­re­spond­ing projects, among oth­ers in Meck­len­burg-West­ern Pomera­nia and Bran­den­burg, are already under devel­op­ment and are to be real­ized step by step from 2020.

About Thü­ga Erneuer­bare Energien GmbH & Co. KG (THEE):
Thü­ga Erneuer­bare Energien GmbH & Co. KG (THEE), based in Ham­burg, is a joint ven­ture of sev­er­al com­pa­nies of the Thü­ga Group. All com­pa­nies of the joint ven­ture are minor­i­ty share­hold­ers of THEE. A stake in THEE is gen­er­al­ly open to all com­pa­nies of the Thü­ga Group. THEE invests in renew­able ener­gy projects with a focus on Ger­many. Busi­ness objec­tive of THEE is to bun­dle know-how and cap­i­tal in order to expand its own ener­gy gen­er­a­tion from renew­able sources in the com­ing years.
www.ee.thuega.de

About the CEE Group:
The asset man­ag­er CEE Group, which spe­cialis­es in invest­ments in renew­able ener­gies, is expand­ing its onshore wind ener­gy port­fo­lio with the acqui­si­tion of the wind farm Schwal­bach in Saar­land. The Ham­burg-based CEE Group now has onshore wind tur­bines with a total installed capac­i­ty of around 418.5 MW and pho­to­volta­ic plants with a capac­i­ty of around 315 MWp; total elec­tric­i­ty pro­duc­tion in 2018 was around 1.1 bil­lion kilo­watt hours.

With assets under man­age­ment of around EUR 1.4 bil­lion, the CEE Group invests in ener­gy gen­er­a­tion projects in the wind and solar sec­tors. The investors of the CEE Group are insti­tu­tion­al investors with a long-term inter­est in invest­ments in renew­able ener­gies. The CEE Group was acquired by Brook­field Asset Man­age­ment in 2017.

Press con­tact Thü­ga Erneuer­bare Energien:
Den­nis Sahl
Pub­lic Rela­tions
Phone: +49 (0)89–38197-1504
E‑mail: Dennis.Sahl@thuega.de

Con­tact CEE Group:
Dr. Björn Keßel
Direc­tor Busi­ness Devel­op­ment
Phone: +49 (0)40 688 788–63
E‑mail: kessel@cee-group.de

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