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German developers team up on 500 MW of subsidy-free solar projects

German renewable energy project developer and operator Thüga Erneuerbare Energien GmbH & Co. KG, or THEE, and private equity firm CEE Group have signed a memorandum of understanding to jointly construct and operate several photovoltaic projects in Germany with a total capacity of 500 MW.

The projects will be built and operated without subsidies, the two partners said in an Aug. 27 news release.

"In the context of the energy transition, it is remarkable that large-scale photovoltaic plants can now be operated in Germany solely on the basis of long-term power purchase agreements, without subsidies," CEE Group's director of business development, Björn Keßel, said in the news release.

Some of the projects are currently under development and are expected to start construction in 2020.

THEE is the renewable energy investment platform of Thüga Aktiengesellschaft, a network of municipal utilities in Germany.