The Hamburg-based manager of green power assets CEE Group has acquired the Venekoten-Oosterwolde solar park in the Dutch province of Friesland from Baywa RE. The plant, which has an output of 53 megawatts, has been connected to the grid since 2020. The Dutch Rabobank was involved in the transaction as the financing bank.
Several projects already implemented
The solar park consists of monocrystalline modules from Hanwha Q-Cells and Chint Astronergy, which are mounted in a classic fixed position facing south. The contracting parties have agreed not to disclose the purchase price of the transaction. “We are delighted about the sale of this high-quality photovoltaic project to the CEE Group. Our two companies are linked by a long-standing, very cooperative partnership, in the course of which we have already been able to implement several large-scale photovoltaic projects together. With regard to the international climate targets, these projects make an important contribution,” explains Matthias Taft, Managing Director of Baywa RE.
Detlef Schreiber, Managing Director of the CEE Group, also emphasises the long-standing cooperation. “Our cooperation is characterised by an exceptionally high level of professionalism, a great willingness to cooperate and mutual trust. We appreciate Baywa RE’s high quality standards, both in terms of project development and technical implementation,” says Schreiber.
250 megawatts in the portfolio
The plant in Venekoten-Oosterwolde is the CEE Group’s second solar project in the Netherlands. In the meantime, however, several more plants have been added. The CEE Group’s Dutch portfolio has thus increased to a total of 250 megawatts. The construction of another large solar park in the Netherlands is already in the pipeline.
The plant in Venekoten-Oosterwolde accounts for more than a fifth of the CEE Group’s entire current portfolio in the Netherlands and is an important mainstay in the local market, according to Frank Grafe, CIO of CEE Fgroup. Due to its size, it offers investors advantages in terms of cost structure and the leveraging of synergies and is therefore particularly interesting. “In addition, the technological standard in the Netherlands is comparable to that which we find in Germany, for example,” emphasises Frank Grafe, who is also responsible for new business and asset management of the existing portfolio.
Dutch market promises growth
The Dutch market is again particularly interesting for the CEE Group. It promises a lot of growth. The company refers to figures from Solarpower Europe, according to which Germany will still be the largest market in Europe in 2022 with 7.9 gigawatts of newly installed output. Spain follows close behind in second place with 7.5 gigawatts and Poland in third place with 4.9 gigawatts. However, although the Netherlands is in fourth place with four gigawatts of newly installed output, in terms of expanded solar power output per capita it is in first place and could expand this to more than 1,000 watts per inhabitant in 2022. This is probably also related to the substantial conditions for investment in renewable energies in the Netherlands.
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The CEE Group invests exclusively in the photovoltaic and wind sectors. This applies to all international target markets, the company informs. “We focus on clearly defined technologies and do not compromise in this respect. Our high level of expertise in the two technologies mentioned is a clear competitive advantage – in terms of acquisition, but above all also in terms of operational management,” Detlef Schreiber explains this decision. (su/mfo)