CEE Group, a Hamburg-based asset manager focused on renewable energies, has acquired the Klüden solar photovoltaic (PV) project in Börde, Saxony-Anhalt, Germany, from German project developer Sunovis.
The acquisition was made for CEE Group’s investment funds, CEE Renewable Fund 7 (RF7) and CEE Renewable Fund 8 (RF8).
The 102 MWp Klüden solar PV park will generate green energy sufficient to power 47,500 households. Construction began in September 2024, and the project is expected to become operational by April 2025.
The project is supported by a 20-year power purchase agreement (PPA), ensuring a fixed price for 80% of the energy generated, providing long-term stable cash flow for investors.
The Klüden solar PV park expands CEE Group’s RF7 and RF8 funds, which focus on wind and solar PV assets in core European markets. RF8, launched in late 2023, has added this as its fourth asset, building a diversified renewable energy portfolio.
Taylor Wessing provided legal and compliance advisory services for the transaction, while Evergy Engineering acted as the technical advisor. Project financing was arranged by DAL Deutsche Anlagen-Leasing and Nord/LB.
CEE Group’s renewable energy portfolio now includes 47 onshore wind farms with 667 MW capacity and 57 photovoltaic projects with a total of 1.5 GWp across Europe.