Hamburg-based asset manager CEE Group has moved into the Dutch market with the acquisition of Emmen PV solar park for an undisclosed amount.
CEE Group said the Emmen PV solar park is located on the Dutch-German border and consists of high-performance, tier-one technology.
The solar park has a total generation capacity of 30.7MWp and is expected to produce 29KWh of renewable electricity annually.
BayWa re Operation Services will oversee technical operations of the solar park.
Detlef Schreiber, CEO of CEE Group, said: “We are pleased to have completed the acquisition of Emmen PV, our first investment in the attractive Dutch market.
“This acquisition demonstrates the implementation of our growth strategy in European continental markets.”
CEE Group, which was acquired by Brookfield Asset Management in 2017, invests in energy generation projects in the wind and solar sectors.
Jens Schnoor, investment director of CEE, said: “The strong relationship and long-standing cooperation with BayWa re enabled us to realise this project successfully and we look forward to working together on additional projects in Europe in the future.”
Benedikt Ortmann, who is responsible for the solar project at BayWa re, said: “We are delighted to continue our long-standing successful partnership with CEE.
“We are confident that we will continue to implement further projects together in the future.”