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PNE Wind Completes Sale of Wind Energy Portfolio

Cuxhaven, Germany

Buyer is a subsidiary of the energy and infrastructure fund Allianz Renewable Energy Fund II, which is managed by Allianz Global Investors GmbH (AllianzGI). The purchase price was approx. euro 103 million. PNE Wind again was able to sell wind energy projects to an internationally renowned buyer. PNE Wind sold offshore projects to Dong Energy and the project pipeline in Great Britain to Brookfield before.

Markus Lesser, CEO of PNE Wind AG: "With AllianzGI we have found a reliable and long-term partner for this wind farm portfolio. We are delighted, this shows confidence in our wind farms and our operational management services. Owing to the sale, PNE WIND now has a high level of liquidity, which forms the basis for further projects and investments. Furthermore the segments electricity production and services for wind farms could be strengthened."

The remaining 20 percent of the wind farm portfolio will continue to be held by the wind power specialist PNE WIND AG. In addition, PNE WIND will continue to be active as a service provider for the operational management of the wind farms in the long term. PNE Wind has been investing in the construction of the wind farm portfolio since 2014.



Source: IWR Online, Jan 01 2017