Concentration on Europe: PNE AG Sells US Division to Lotus Infrastructure Partners

Cuxhaven, Germany - PNE AG has sold its US business to the US investor Lotus Infrastructure Partners. As the company further announces, the business includes the Chicago-based company PNE USA, Inc. as well as the project pipeline. This currently consists of 18 wind energy, photovoltaic and energy storage projects with a total output of over 3 gigawatts in various stages of development.

Both parties have agreed not to disclose the purchase price. A down payment was made. The majority of further payments will be made depending on the progress of the project.

Markus Lesser, CEO of PNE AG: “We are pleased that we have found a partner with experience in the energy sector who will take over our business including the project pipeline. The deal is good for our colleagues in the USA, as they can further develop the projects they have initiated and lead them to success. At the same time, this is a good day for PNE AG. We can now focus on further growth as an Independent Power Producer (IPP) in Europe."

PNE AG intends to invest the proceeds in order to achieve the goals of the Scale up 2.0 corporate strategy. Among other things, the strategy provides for a massive expansion of the self-operated portfolio in Europe.

PNE AG intends to invest the proceeds in order to achieve the goals of the Scale up 2.0 corporate strategy. Among other things, the strategy provides for a massive expansion of the own-operation portfolio in Europe.

The PNE Group has been on the market for 25 years. The focus is on the development of wind energy and photovoltaic projects worldwide as well as on electricity generation with its own wind farms. At the end of the first quarter of 2024, the own portfolio reached a capacity of approx. 370 MW (Q1 2023: 321 MW). By the end of 2027, PNE intends to have its own wind farms and photovoltaic systems with an output of 1,500 MW/MWp in operation or under construction.

Source: IWR Online, 09 Jun 2024