Transaction: PNE Sells Five PV Projects in Romania With 208 MWp to Total Energies

Cuxhaven, Germany - Total Energies Renewables SAS is buying five photovoltaic projects in Romania from PNE. The projects, with a total capacity of 208 MWp, are currently still under development. PNE is responsible for the further project development until they are ready for construction.

"We are delighted that TotalEnergies trusts in our proven expertise in the solar photovoltaic domain. This agreement confirms that PNE’s ‘Scale Up 2.0’ strategy is appealing in the industry. By delivering ready-to-build projects, PNE extends its resilient business model whilst simultaneously enhancing company value," said PNE CEO Markus Lesser, welcoming the transaction.

" The acquisition of these five solar projects in Romania is a perfect illustration of TotalEnergies’ commitment to develop its renewable energy activities in the country, and more broadly in Eastern Europe, in support of the Green Deal", added Marin de Montbel, VP Renewable Explorer - New Markets Total Energies.

The parties to the transaction have agreed not to disclose the purchase price.

PNE has been operating in Romania for over 10 years and has successfully developed and sold 510 MW/MWp of wind and photovoltaic projects. Currently, projects amounting to 1 GW are under development.

As part of the company's goal to achieve net-zero electricity consumption by 2050, Total Energies is building a portfolio of power and renewable energy activities. At the end of 2022, Total Energies' gross installed capacity in renewables was nearly 17 GW, according to the company. Total Energies aims to further expand this business, to a gross power production capacity of 35 GW from renewable energy sources and storage by 2025, and to a gross power production capacity of 100 GW by 2030. The company's goal is to be among the top 5 electricity producers worldwide from wind and solar power.

Source: IWR Online, Jul 07 2023