Image: CEE
CEE Group, a Hamburg-based asset manager specializing in renewable energy, has acquired the Kluden solar PV project in Saxony-Anhalt, Germany, for its investment funds, CEE Renewable Fund 7 (CEE RF7) and CEE Renewable Fund 8 (CEE RF8).
Construction of the 102 MWp solar park began in September 2024, with operations set to start in April 2025. The project will generate enough energy to power around 47,500 households.
The solar park's energy output is largely secured by a 20-year corporate Power Purchase Agreement (PPA), with 80% of the energy sold at a fixed price, providing long-term, stable cash flow for investors.
Detlef Schreiber, CEO of CEE Group, commented: "This acquisition strengthens our renewable energy portfolio, offering stable returns through the long-term PPA." The project is financed by DAL Deutsche Anlagen-Leasing (DAL) and Nord/LB, with Taylor Wessing advising on the transaction and Evergy providing technical consultancy.
CEE RF8, launched in 2023, also targets hybridization projects, broadening its renewable energy investments. The Kluden project is the fourth asset in this fund, which has already made significant progress since its first closing this summer.
Currently, CEE Group's portfolio includes 47 wind farms with 667 MW and 57 solar projects with 15 GWp across Europe.
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