Strong Q2 Result: PNE AG Continues On Its Successful Course
Cuxhaven, Germany - PNE AG, an international wind and solar energy project developer and provider of clean energy solutions, has achieved significant operational and financial growth in the first six months of 2022.
The reported undiluted earnings per share of euro 0.14 (previous year: euro 0.01) were positively influenced in particular by extraordinary interest income from subsequent valuations of interest rate swaps and loan liabilities held by the Group.
At the same time, PNE AG was able to strongly expand its pipeline of projects under development (project pipeline) as well as its own portfolio of wind turbines, the company announced. Currently, the pipeline for wind and photovoltaic (PV) projects amounts to around 9.1 GW/GW (H1 2021: 6.5 GW/GW).
The acquisition of a majority stake of 51 per cent in Coliaenergia ESPAÑA (KOLYA) after the end of the reporting period and the 1,808 MW contributed by KOLYA as a result has now massively increased the company's total pipeline for wind and PV to around 11 GW/GW (as of 27 July 2022).
"Years of continuous implementation of our realignment as a clean energy solutions provider and our strategic investments in our business model are now paying off", said Markus Lesser, CEO of PNE AG.
The portfolio of wind farms operated by the company amounted to approx. 261 MW at the end of the first half of the year. PNE AG expects to be able to commission further wind farms in 2022; a total of around 124 MW of wind farms is currently under construction. This brings the Group ever closer to its target of expanding its own projects under construction or in operation to up to 500 MW by the end of 2023.
Source: IWR Online, 12 Aug 2022