German investment company acquires 50MW solar farm

Hamburg investment firm Conetwork Erneuerbare Energien (CEE ) has acquired a 50MW solar farm installed in Ahlhorn, northern Germany from an unnamed company.

The 38 hectare solar farm was developed by Johann Bunte Construction and has 218,000 modules from Canadian Solar and SunEarth/SiG Solar. Voltwerk electronics, a subsidiary of the Bosch Group and Power-One, supplied inverters.

The Alhorn park has been estimated to generate about 47 million kilowatt hours of electricity annually for 13,500 households.

Detlef Schreiber Managing Director at CEE said: "The year 2012 in the PV sector was extremely successful for CEE. Our company has orders for solar projects for just under 110MW, and has now acquired a PV portfolio worth 174MW. The company also seeks continue working on projects in Germany and looking for investment opportunities in other European countries.”

CEE did not provide any information about the financial terms of the transaction.