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    PNE AG sells US branch to Lotus Infrastructure Partners

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    German developer PNE AG has divested its US business to investor Lotus Infrastructure Partners for an undisclosed amount.


    The transaction encompasses PNE USA Inc, headquartered in Chicago, along with its project pipeline. This pipeline currently includes 18 wind, photovoltaic, and energy storage projects, totalling over 3GW in various stages of development.


    Both parties have chosen not to reveal the purchase price. An initial down payment was made at the time of closing, with most additional payments contingent upon the progress of the projects.


    A representative for PNE AG said “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.”


    PNE intends to reinvest the sale proceeds into its European operations to achieve the objectives of its Scale Up 2.0 strategy, which includes significantly expanding its portfolio of self-operated projects.


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