HAMBURG - The Hamburg-based private equity firm CEE is steadily expanding its portfolio and has acquired a further German wind farm. With six turbines, the farm is situated in Gilmerdingen in Niedersachsen (Lower Saxony) and has a capacity of about 12 megawatts (MW). For the first time, CEE’s total capacity in the wind and solar PV segments exceeds 600 MW.
The wind farm acquired by CEE is located in Niedersachsen near to the city of Soltau. The six wind turbines (type Gamesa G97) with a hub height of 120 m deliver generating capacity of about 12.0 MW.
The seller of the wind farm is the Danish company European Energy AS, with which CEE has collaborated successfully for quite some time. The newly acquired wind farm is the third project to be acquired by CEE from European Energy AS. The commercial management will be assumed by CEE Operations GmbH, the CEE subsidiary and specialist in that area.
CEE’s total production capacity from wind and solar farms rises to more than 600 MW. This further strengthens CEE’s position as one of the largest independent operators of solar and wind farms in Germany. “As a market player from the very beginning, we are pleased to grow further in the current competitive environment. This underscores our long-standing expertise in structuring, acquiring and operating renewable energy projects,” explains Detlef Schreiber, CEO of CEE, and adds, “Investments in physical assets with regular cash flows continue to offer our investors an attractive investment opportunity in the current low interest rate environment – and do so relatively independently of what happens in the global financial markets.”
CEE’s wind and solar farms are located in Germany, France and the UK. In 2017, the CEE energy parks are expected to produce about 950,000 megawatt hours (MWh) of energy from renewable sources and thus supply some 225,000 four-person households with green power.