13 February 2020
Under the leadership of its Hamburg partner Carsten Bartholl together with Swedish law firm Setterwalls, the International law firm Taylor Wessing advised the renewable asset manager CEE Group on the transaction of Zinkgruvan wind farm in Sweden. Hamburg-based CEE Group acquired the "Zinkgruvan" wind farm in Sweden with a total rated power of 53.2 MW from European Energy A/S in December and is thus expanding its onshore wind energy portfolio to a total installed capacity of around 490 MW.
The Zinkgruvan wind farm is located 70 km north of Linköping near the northern end of Lake Vättern and supplies with its 53.2 MW approx. 40,000 Swedish households with fossil-free energy. Zinkgruvan was built and connected to the grid in early 2019. The acquisition is the first investment by CEE in Sweden and the first project based on a long-term power purchase agreement (PPA). The wind farm consists of 14 turbines from GE Renewables with a capacity of 3.8 MW each, a rotor size of 137 meters and a hub height of 110 meters. Zinkgruvan is the second construction project in Sweden for European Energy.
The CEE Group is active in Germany, France, Scandinavia, the Benelux countries and the Iberian Peninsula and now has onshore wind turbines with a total installed capacity of around 490 MW and photovoltaic systems with a total capacity of around 315 MWp; electricity production in 2019 totalled around 1.2 billion kilowatt hours.
With assets under management of around EUR 1.5 billion, CEE Group invests in energy generation projects in the wind and solar sector. The investors of CEE Group are institutional investors with a long-term interest in investments in renewable energy. CEE Group was acquired by Brookfield Asset Management in 2017.
Legal Advisors CEE Group
Taylor Wessing: Project lead Carsten Bartholl (Partner, Corporate/Energy, Hamburg), Markus Böhme (Partner, Environmental Planning & Regulatory, Düsseldorf)
Taylor Wessing advises CEE Group on the acquisition of the first German “onshore wind+storage”-project and respective PPA
by multiple authors