PNE Wind to sell wind portfolio

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PNE Wind to sell wind portfolio

PNE Wind AG is planning the proportional or full sale of its wind farm portfolio to one or more investors. The Executive Board made this decision today with the agreement of the Supervisory Board. As a result, the company is dismissing the concept of marketing this portfolio differently through an initial public offering. 

PNE Wind AG has built up a portfolio of wind farms with a nominal output of more than 142 MW in its own portfolio since 2014. The majority of these farms are already in operation. A smaller proportion is under construction and will be commissioned soon. Another wind farm with roughly 10 MW is in the approval process. 

The onshore wind farms bundled in the portfolio were erected at the windiest locations in Germany. The efficiency of the wind farms already in operation can be better assessed than is the case when wind farms are sold before their erection.

Markus Lesser, CEO of PNE WIND AG said:

 “Following extensive market research, we have now decided to sell the wind farm portfolio with roughly 152 MW directly to investors or strategic partners. In the current market conditions we see a better alternative in the direct sale of a complete portfolio or a proportion of it than in a possible initial public offering."

The negotiations with investors regarding the sale of the wind farm portfolio are to be concluded this year as planned.

The onshore wind farms bundled in the portfolio were erected at the windiest locations in Germany. The efficiency of the wind farms already in operation can be better assessed than is the case when wind farms are sold before their erection.

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