April 29 (Renewables Now) - Hamburg-based private equity group CEE announced on Friday the purchase of a 30.7-MWp Dutch photovoltaic (PV) park, marking its first direct investment in the Netherlands.
The Emmen PV solar park has been acquired for an undisclosed amount from BayWa re renewable energy GmbH, the renewables arm of German diversified group BayWa AG (ETR:BYW6). Located on the Dutch-German border, Emmen has been fully connected to the power grid since the end of 2018. The PV facility has an estimated annual output of 29 GWh, enough to offset around 17,000 tonnes of carbon dioxide (CO2) emissions per year.
After the sale, the German company will continue to oversee the technical operations of the solar park through BayWa Operation Services GmbH, while CEE Operations GmbH will be in charge of commercial management.
With this acquisition, CEE's renewable portfolio goes up to 680 MW and the firm expects to generate approximately 1 TWh of clean power this year.