PNE AG has announced the sale of its US subsidiary PNE USA, Inc. to American investor Lotus Infrastructure Partners. This transaction includes a portfolio of 18 wind power, photovoltaic and energy storage projects, totalling over 3GW of capacity. These projects are at various stages of development, offering significant growth potential for Lotus Infrastructure Partners. The financial terms of the agreement were not disclosed, although a deposit was paid on closing. Remaining payments are conditional on project progress. This sale will enable PNE AG to concentrate on its activities in Europe.
Focus on European growth
Markus Lesser, CEO of PNE AG, commented: “We are delighted to have found an experienced partner in the energy sector to take over our US business. This transaction enables our US teams to continue to develop current projects and bring them to a successful conclusion. For PNE AG, it means we can now focus our resources on our growth in Europe.” PNE AG plans to invest the funds from this sale to achieve the objectives of its Scale Up 2.0 strategy, including the significant expansion of its own power generation portfolio.
Market analysis and outlook
This transaction is part of a wider trend for European companies to refocus on their domestic markets, while withdrawing from certain international activities. PNE AG is looking to strengthen its position as an independent power producer in Europe, a market offering attractive growth opportunities. Lotus Infrastructure Partners, for its part, strengthens its presence in the US renewable energy market with this acquisition. The portfolio of diversified projects at different stages of development will enable the investor to meet the growing demand for renewable energies in the United States. In short, this transaction represents a key step for PNE AG in its strategy of refocusing on the European market, while ensuring continuity and progress for US projects under new management.
