CEE Group conducting debt raise for circa 1 GW wind and solar repowering

CEE Group is understood to have launched a large-scale debt financing transaction to expand circa 300 MW of operational onshore wind and solar in France and Germany into a near 1 GW portfolio of repowered projects.

CEE Group is working with Eight Advisory (financial) on the current debt raise. The Hamburg-based developer and investor has in recent weeks conducted market soundings with a selection of lenders from across Western Europe.

CEE will aim to close the transaction during the second half of 2024 but will face some complexity in terms of reaching a deal due to the nature of the proposition.

While much of the portfolio is understood to feature contracted elements, via CfDs and feed-in tariffs, it is understood that the group will lose at least the wind element of contracted revenues for its older wind fleet in the coming quarters and will be required to rebid for incentives.

Funds managed by the group, including its CEE Renewable Fund 8, in March closed the financing of an 80.9 MW German PV plant after raising debt from DAL Deutsche Anlagen.

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