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CEE Group's Onshore Wind Energy Portfolio Rises to Almost 500 MW

Hamburg, Germany - The asset manager CEE Group, specialized in regenerative investments, has acquired the Swedish wind farm Zinkgruvan, tha has recently entered into a 10-year offtake agreement with a large international utility. For the company, the transaction is an important step in its international growth strategy.

The Zinkgruvan Wind Farm is located 70 km north of Linköping near the northern end of the Vättern Lake. The wind farm has a capacity of 53.2 MW and consists of of 14 GE Renewables turbines with a capacity of 3.8 MW. Zinkgruvan is the second construction project in Sweden for European Energy. The wind farm was constructed and connected to the grid in early 2019. According to CEE, the acquisition marks the company’s first investment in Sweden and the first project based on a long-term power purchase offtake agreement (PPA). Detlef Schreiber, CEO of CEE Group, commented: “The acquisition of Zinkgruvan wind farm is an important step forward in our international growth strategy. CEE acquired five wind farms in 2019, including Zinkgruvan, with a total enterprise value of approximately 200 million Euro.

The asset manager CEE Group, which specialises in investments in renewable energies, is expanding its onshore wind energy portfolio with the acquisition of the wind farm Zinkgruvan in Sweden. The Hamburg-based CEE Group now has onshore wind turbines with a total installed capacity of around 490 MW and photovoltaic plants with a capacity of around 315 MWp; total electricity production in 2019 was around 1.2B kilowatt hours. With assets under management of around 1.5 billion Euro, the CEE Group invests in energy generation projects in the wind and solar sectors. The CEE Group was acquired by Brookfield Asset Management in 2017.

Source: IWR Online, 31 Jan 2020