CEE Group’s Acquisition of The First German “Onshore Wind+Storage” Project And PPA Contract With MVV Trading

Taylor Wessing advised CEE Group on the 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.

The Taylor Wessing Team included Lead Carsten Bartholl (Picture – Partner), Dr. Angela Menges (Salary Partner), Jasmin Schlee (Associate), Thorsten Eggert (Associate), Dr. Gregor Jentsch (Associate) all Corporate Energy, Hannes Tutt (Salary Partner), Galya Stareva, (Professional Support Lawyer) both Commercial Real Estate, Dieter Lang (Partner), Lars Borchardt (Senior Associate) both Environmental, all Hamburg, Dr. Markus Böhme (Salary Partner, Public Law Energy, Düsseldorf). 

Involved fees earner: Carsten Bartholl – Taylor Wessing; Markus Böhme – Taylor Wessing; Lars Borchardt – Taylor Wessing; Thorsten Eggert – Taylor Wessing; Gregor Jentsch – Taylor Wessing; Dieter Lang – Taylor Wessing; Angela Menges – Taylor Wessing; Jasmin Schlee – Taylor Wessing; Galya Stareva – Taylor Wessing; Hannes Tutt – Taylor Wessing;

Law Firms: Taylor Wessing;

Clients: CEE Group;

Author: Federica Tiefenthaler