PNE AG / DE000A0JBPG2
06.06.2024 - 17:59:20PNE AG successfully sells its US division to Lotus Infrastructure Partners
| PNE AG / Key word(s): Miscellaneous 06.06.2024 / 17:59 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News US investor takes over company and project pipeline PNE to focus on growth as a power producer in Europe Cuxhaven, 06 June 2024 – PNE AG has sold its US business to US investor Lotus Infrastructure Partners – including PNE USA, Inc., based in Chicago, and the project pipeline. The latter currently consists of 18 wind energy, photovoltaic and energy storage projects with a total output of over 3GW, all at differing stages of development. Both parties have agreed not to disclose the purchase price. A down payment was made at closing. The majority of further payments will depend on the progress of the projects. “We’re pleased to have found an experienced partner in the energy sector who will take over our business, including the project pipeline. This is good for our colleagues in the US, because it means they can continue to pursue the projects they initiated and lead them on to successful completion. And it’s a good day for PNE AG, too. We can now focus on further growth as an independent power producer (IPP) in Europe.” This is where PNE is planning to invest the proceeds so as to meet the targets of the company’s Scale Up 2.0 strategy, which include a massive expansion of its own-operation portfolio. About the PNE Group The internationally operating, listed PNE Group is included in the SDAX as well as the TecDAX. For more than 25 years, it has been one of the most experienced project developers in the field of onshore and offshore wind farms. The focus is on the development of wind energy and photovoltaic projects worldwide as well as on electricity generation with its own wind farms. Its portfolio covers all project planning phases, from site investigation and the implementation of the approval procedures, through financing and construction, to operation and repowering. As a clean energy solutions provider, the PNE Group also offers services for the entire life cycle of wind farms and photovoltaic plants. The PNE Group is a sought-after partner to industry for solutions for the refinement of electricity via power-to-X technologies. Contact: PNE AG Alexander Lennemann Head of Corporate Communications Tel: +49 47 21 – 7 18 - 453 E-mail: alexander.lennemann@pne-ag.com 06.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | PNE AG |
| Peter-Henlein-Straße 2-4 | |
| 27472 Cuxhaven | |
| Germany | |
| Phone: | 04721 / 718 - 06 |
| Fax: | 04721 / 718 - 200 |
| E-mail: | info@pne-ag.com |
| Internet: | http://www.pne-ag.com |
| ISIN: | DE000A0JBPG2, DE000A30VJW3 |
| WKN: | A0JBPG, A30VJW |
| Indices: | SDAX, TecDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1920063 |
| End of News | EQS News Service |
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