PNE AG successfully sells its US division to Lotus Infrastructure Partners

• 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.