CEE Group, a Hamburg-based asset manager specializing in renewable energies, has announced the acquisition of a photovoltaic project in San Pedro del Pinatar, in the Murcia region of southern Spain. This project, with a peak capacity of 102.5 MWp, is currently under construction and is due to be connected to the grid in the second half of 2025. The acquisition is part of the new CEE Renewable Fund 8, recently launched with a planned investment of 750 million euros. This fund specifically targets hybridization projects, in addition to wind and solar farms and storage technologies.
The vendor and EPC (Engineering, Procurement and Construction) contractor for this project is a European corporation with extensive experience in the development, construction and operation of renewable energy facilities. By 2021, CEE Group had already acquired a 50 MWp photovoltaic project in Villanueva from the same company, which will also operate the plant for an initial period of five years.
Favorable conditions in Murcia
Murcia, with its 346 hours of sunshine per month, is one of the sunniest regions in Spain, offering ideal conditions for photovoltaic projects. The San Pedro del Pinatar solar park will provide enough energy to power around 47,500 homes. The project will be supported by a Power Purchase Agreement (PPA) for the sale of the electricity generated.
This region is a strategic location for photovoltaic investments. Favorable climatic conditions ensure stable, profitable energy production over the long term, attracting institutional investors looking for secure, high-performance investments.
Strategic Investment
The RF8 CEE fund, launched at the end of 2023, has already completed its second transaction with this project. This closed-end alternative investment fund, with a planned volume of 750 million euros, will invest specifically in hybridization projects, in addition to wind and solar farms and storage technologies. Primarily, the existing wind farms in the CEE Group portfolio will be extended to include additional photovoltaic systems and storage solutions.
Detlef Schreiber, CEO of CEE Group, emphasized Murcia’s attractiveness for photovoltaic projects, saying the acquisition strengthens the CEE RF8 fund by offering attractive long-term returns. He also mentioned the strengthening of relations with Spanish partners, marking the second successful transaction with them.
Growth prospects
With Europe’s energy infrastructure becoming increasingly decarbonized, investments like the one by CEE Group in San Pedro del Pinatar are crucial to meeting the growing demand for clean energy. The long-term profitability of these projects is underpinned by power sales contracts and policies favorable to renewable energies, reinforcing the security of investment in the sector.
The CEE Group currently has 47 onshore wind farms with an installed capacity of 655 MWp, and over 54 photovoltaic projects totalling 1.2 GWp in Europe. These projects are an opportunity for institutional investors to play an active part in the energy transition while generating significant returns.
Market analysis
Spain’s renewable energy sector is booming, supported by favorable government policies and growing demand for green energy. Investments in photovoltaic and wind power projects offer stable returns, thanks to long-term contracts and feed-in agreements guaranteed by PPAs.
By strengthening its portfolio with projects such as San Pedro del Pinatar, CEE Group is strategically positioned to capture a significant share of this growing market. The focus on hybridization and storage projects reflects a strategy aimed at maximizing the efficiency and profitability of investments by integrating advanced technological solutions.
Strategy and Performance
The acquisition of the San Pedro del Pinatar solar farm is part of a broader strategy to diversify and strengthen CEE Group’s portfolio. By focusing on regions with high solar potential like Murcia, the company can guarantee high energy production and solid financial returns for its investors.
Working with experienced local partners also helps to reduce operational risks and ensure efficient project management. In addition, the use of PPAs for the sale of the electricity generated secures long-term revenue streams, offering greater financial visibility for institutional investors.
CEE Group’s acquisition of the solar park in San Pedro del Pinatar marks a significant step towards expanding their energy portfolio in Europe. This project illustrates not only their commitment to the energy transition, but also their ability to generate stable, sustainable returns for institutional investors. As demand for clean energy continues to grow, such initiatives will play a vital role in creating a more sustainable energy future.
