Taylor Wessing advises CEE Group on the acquisition of the first German “onshore wind+storage”-project and respective PPA

Under the leadership of its Hamburg partner Carsten Bartholl, the International law firm Taylor Wessing advised the renewable asset manager CEE Group on a special renewable energy transaction. At the beginning of September 2021, the CEE Group acquired the only "onshore wind+storage" project in Germany to date from juwi including a PPA contract with MVV Trading GmbH. At the Schmölln II wind farm in the Radowtal municipality (Uckermark), juwi is constructing two multi-megawatt class wind turbines and a battery storage system. juwi was awarded the contract for this innovative project in the first nationwide innovation tender by the German Federal Network Agency in September 2020. To date, this is the only "onshore wind+storage" project of its kind in Germany. The electricity is reimbursed with a fixed market bonus as well as with a so-called Power Purchase Agreement (PPA) that juwi developed jointly with MVV Trading GmbH.  Hamburg-based CEE Group has now acquired project and PPA.

The on-site infrastructure is currently being prepared for the construction of the two Vestas V136 wind turbines, each with an installed capacity of 3.6 megawatts. The system components are to be delivered and installed from mid-November, so that commissioning can take place by January 2022. While this part of the project is more of a routine activity for the more than 25-year-old juwi group, the construction of the additional storage unit is uncharted territory in Germany. Planned is a lithium-ion storage unit with a capacity of almost three megawatt hours from Smart Power and the corresponding measurement and control technology.

CEE Group is a Hamburg-based asset manager specializing in renewable energy. With assets under management of around €1.9 billion, the company invests in power generation projects in the wind and solar sectors. CEE Group holds onshore wind farms with an installed capacity of around 595.2 MW as well as photovoltaic plants with around 473 MWp. The CEE portfolio that currently comprises 42 onshore wind farms and 32 solar parks. Total electricity generation in 2020 amounted to approximately 1.4 billion kilowatt hours.

As an internationally operating company, CEE Group offers its customers sustainable investment concepts with long-term return opportunities in the growth market for renewable energies. With its independently operating entities, 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.

Legal Advisors CEE Group