PNE WIND Nears Deal For Majority Stake In Project Portfolio

Posted by Betsy Lillian on November 30, 2016 No Comments
Categories : New & Noteworthy

German wind company PNE WIND AG is in what it calls a “very advanced stage of negotiations” with AREF II Renewables Investment Holding S.a.r.l. concerning the sale of an 80% shareholding in PNE WIND YieldCo Deutschland GmbH.

The purchaser, a subsidiary of the energy and infrastructure fund Allianz Renewable Energy Fund II, is managed by Allianz Global Investors GmbH and concluded its fundraising with institutional investors earlier this month.

For this purpose, PNE WIND AG and Allianz Global Investors GmbH recently agreed on exclusivity and have now filed with the Federal Cartel Authority the application for approval of the transaction necessary within the framework of merger control regulations.

The agreement on the sought sale is to be signed and become binding in the course of the coming weeks, says PNE WIND.

PNE WIND AG has bundled in PNE WIND YieldCo Deutschland GmbH wind farm projects with a total of 142.5 MW, along with an option to purchase a further 9.9 MW from PNE WIND Group.

PNE WIND AG says it has a comprehensive project pipeline with some 4.7 GW of onshore and 5 GW of offshore wind. The company established a U.S. subsidiary, PNE WIND USA, in 2008. Headquartered in Chicago, the subsidiary of 100% owned by PNE WIND AG.

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