Taylor Wessing advises CEE Group on the acquisition of the solar park Karstädt

Under the leadership of its Hamburg partner Carsten Bartholl, international law firm Taylor Wessing advised the renewable asset manager CEE Group on another renewable energy transaction. The Hamburg-based CEE Group is expanding its portfolio in the field of solar power and acquired the Karstädt solar park with a total nominal output of around 19 MWp from Energiekontor AG at the end of last year. The solar park is located in the municipality of Karstädt in the district of Prignitz in Brandenburg and will generate around 20 GWh of green electricity annually from its first full year of operation. This is roughly equivalent to the average annual electricity demand of around 6,000 German households. For about a quarter of the electricity generated, EEG compensation is guaranteed for a period of 20 years. For about three quarters of the generated electricity, a long-term power purchase agreement (PPA) with a term of 15 years was concluded. Construction of the solar park has already begun and commissioning is planned for the beginning of 2023.

CEE Group is a Hamburg-based asset manager specializing in renewable energy. With a track record of over 90 transactions in the renewable energy sector and a portfolio of ca. 2.3 billion euros in assets under management in Europe, CEE is a competent and reliable partner. Since its inception, CEE’s main focus has been on wind and solar energy. The CEE Group has 45 onshore wind turbines with an installed capacity of around 636 MW and 47 photovoltaic plants with around 891 MWp. The total capacity thus amounts to more than 1.5 GW.
As an internationally operating company, the CEE Group offers its customers sustainable investment concepts with long-term return opportunities in the growth market for renewable energies. With its independently operating companies, the company has a comprehensive range of services for projects in this segment. Investors are in particular institutional investors with a long-term interest in renewable energies.

Energiekontor, founded about 30 years ago in Bremerhaven, is one of the pioneers in the industry and now one of the leading German project developers for renewables.

Its core business covers planning, construction and operational management of wind farms in Germany and abroad, and was expanded to include solar power in 2010. Energiekontor also currently owns and operates wind farms and solar parks with a total rated power of some 370 MW.
The track record speaks for itself: 138 wind farms and 14 solar parks completed with a total rated power of more than 1.2 GW. This corresponds to an investment volume of over EUR 1.8 billion.

Legal Advisors CEE Group
Lead: Carsten Bartholl (Corporate Energy), Dr Angela Menges, Jasmin Schlee, Pauline Peters (all Corporate Energy), Dr Markus Böhme, LL.M., Dieter Lang, Laura Heyer (all Public Law/Energy), Hannes Tutt, Galya Stareva, (both Commercial Real Estate).