CEE Group and DAL commence construction on an 81 MWp solar project in Germany

Hamburg-based renewable energy asset manager CEE Group and its financing partner DAL Deutsche Anlagen-Leasing said on Thursday that they have initiated the construction of an 80.9 MWp solar park in the northeastern German federal state of Brandenburg.

CEE Group has acquired the project from developer Chint Solar.

The facility is being constructed in the municipality of Stuedenitz Schoenermark, 85 kilometres north-west of Berlin. It will consist of around 130,000 solar modules and is expected to be operational at the end of 2024. The solar park is estimated to generate electricity sufficient to meet the needs of around 30,000 households.

According to the statement, DAL is financing the solar park via a savings bank consortium consisting of Sparkasse Oberhessen and Sparkasse Marburg-Biedenkopf. In addition to the borrowed capital from the two lenders, the project is also backed with long-term funding from German development bank KfW.

DAL specialises in arranging and structuring long-term, asset-based financing projects in Germany and selected European countries.

CEE Group operates around EUR 2.6 billion of assets under management in Europe. The company’s portfolio currently consists of 54 solar projects with a combined capacity of 1.2 GWp and 47 onshore wind farms of 700 MW in total.