PNE WIND finalizes sale of 142-MW wind-farm portfolio

Release Time：03 Jan,2017

PNE WIND AG has completed the largest wind-farm sale in its corporate history for a purchase price of approximately EU$103 million. The sale was officially completed after the Federal Cartel Office granted approval of the sale of an 80% stake in the 142-MW wind farm portfolio to a subsidiary of AREF II Renewables Investment Holding. The buyer is a subsidiary of the energy and infrastructure fund Allianz Renewable Energy Fund II, which is managed by Allianz Global Investors (AllianzGI). PNE WIND was again able to sell wind energy projects to an internationally renowned buyer. This was also the case in previous years with sales of offshore projects to DONG Energy and the sale of a project pipeline in Great Britain to Brookfield. “With AllianzGI we have found a reliable and long-term partner for this wind-farm portfolio,” said Markus Lesser, CEO of PNE WIND. “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% of the wind farm portfolio will continue to be held by the wind power specialist PNE WIND. In addition, PNE WIND will continue to be active as a service provider for the operational management of the wind farms. The company has been investing in the construction of the wind farm portfolio since 2014. In one of the wind farms sold, two wind-power turbines with a total nominal output of 6 MW are still under construction. An additional wind farm with about 10 MW is currently in the planning permission procedure and will be integrated into the portfolio later.