PNE sells Papenrode wind farm to Qualitas Energy

EQS-News: PNE AG / Key word(s): Miscellaneous PNE sells Papenrode wind farm to Qualitas Energy 05.11.2024 / 08:57 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

 PNE sells Papenrode wind farm to Qualitas Energy

• Repowering project with a capacity of 59.4 MW
• A fivefold increase in the production of electricity

 Cuxhaven, 05 November 2024 – PNE AG has sold the Papenrode wind farm to Qualitas Energy Deutschland GmbH. The repowering project is located in the municipalities of Groß Twülpstedt and Bahrdorf in Lower Saxony and is currently under construction. It consists of nine turbines and has a rated output of 59.4 MW. The start of operation is scheduled for the second quarter of 2025.

"We are pleased that we can hand over this high-quality project to an investor turnkey-ready. With Qualitas Energy, a company focused on acquisition, development, construction and operation of wind farms will be taking over the wind farm," says Per Hornung Pedersen, CEO of PNE AG. "Planning, development, financing and construction of high-quality wind farms have been our core competence for decades. The completion of the project shows just how good a reputation we have in the industry and with investors. In line with our corporate strategy, we will continue to invest the proceeds of this sale in the profitable growth of our group of companies and the expansion of our own operations."

Roland Stanze, Chief Operating Officer (COO) at PNE AG, adds: "We developed this amazing project in close cooperation with the landowners, the municipalities and the local authorities. We were all focused on one shared goal. Thank you for the good and solution-oriented cooperation."

Johannes Overbeck, Head of Investments at Qualitas Energy Deutschland GmbH, emphasizes: “We are particularly pleased about the excellent and cooperative partnership with PNE during this transaction process. Qualitas Energy is pursuing ambitious investment goals to accelerate the energy transition in Germany. Our investment strategy aims to identify projects that are both ecologically and economically sustainable and brings them to success in close cooperation with the people on site."