CEE acquires 13 megawatt solar PV park in Saxony-Anhalt

Portfolio in Germany grows to an overall capacity of about 443 megawatts

Hamburg, 23 December 2015 – The Hamburg private equity company CEE, which has specialised in renewable energy investments for more than 15 years, is acquiring the Stendal solar PV park in the city of the same name in Saxony-Anhalt (Sachsen-Anhalt). The seller is IBC SOLAR AG, which has developed and constructed the park and will remain responsible for technical operations. CEE Operations, a wholly owned subsidiary of CEE, will be responsible for the commercial side. With its team of experts, it is responsible for the commercial operations of almost the entire energy production portfolio of the CEE Group.

The Stendal solar park has a total capacity of 13.5 megawatts (MW) and has been connected to the grid since September 2012. Stendal generates about 13,300 megawatt hours of renewable electricity each year, which is fed into Avacon AG’s grid. Around 57,800 IBC PolySol and Soltecture modules provide the basis. The inverters were supplied by SMA Technology.

“In acquiring the solar farm in Stendal we worked with IBC SOLAR AG from Bad Staffelstein for the first time. IBC SOLAR is an important and highly professional player in the German and international solar sectors and we are very interested in successfully implementing further projects with it in the future,” says Jens Schoor, CEE’s Investment Director.

“In many respects, the Stendal solar park is a model project for decentralised energy production. In the construction stage, we already took a large number of measures to ensure that the park is integrated ecologically into the region,” says Olaf Baumer, managing director of IBC SOLAR Invest GmbH.
Following the acquisition of the Stendal solar PV park, CEE’s PV portfolio has grown to a total capacity of about 273 MW. “The solar PV market in Germany presents buyers with huge challenges. There is comparatively little new construction, and the demand for attractive investments is strong,” explains Detlef Schreiber, CEE’s CEO. “To earn attractive returns, CEE is focusing on investments with an adequate size as well as performance. However, in addition to acquiring existing parks, we are also able to invest in earlier stages and possibly accept a calculated higher risk thanks to the expertise we have gained over many years.”

CEE is managed by Lampe Equity Management, an investment company which is part of Bankhaus Lampe. With a 443 MW energy production portfolio, CEE is one of the largest independent producers of green electricity in Germany. The portfolio consists mainly of solar PV and wind farms and the geographical focus is on Germany. CEE is also active in France and the UK.

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