Cuxhaven (energate) - The Cuxhaven-based wind power project developer PNE is considering the sale of its US activities. A possible transaction is currently being examined, a company spokesperson told energate. Bids are also being solicited. He did not provide further details, such as the motives behind this step. The news agency 'Reuters' was the first to report on this. In case that this happens, PNE would part with a project pipeline of onshore wind farms and PV projects amounting to 1,135 MW. This is according to the documents for PNE's capital market day in mid-November 2022.
PNE is currently undergoing a strategic realignment. Before the turn of the year 2022/23, the
management had announced its intention to invest 1.6 billion euros, primarily in the core business in Europe. The funds are to be used to grow the project pipeline to 20,000 MW by 2027 and to create an existing power generation portfolio comprising 1,500 MW. Outside Europe, PNE has so far been active in the USA, Canada and South Africa.
PNE anchor investor remains on board
Meanwhile, talks about a possible change of ownership at PNE are off the table. As the majority shareholder of PNE, the US investment bank Morgan Stanley had been
talking to potentially interested parties. This initiative is currently not being pursued further. /pa
