PNE’s 240 MW Khauta South photovoltaic project in South Africa reaches Final Project Development Milestone

EQS-News: PNE AG / Key word(s): Miscellaneous PNE’s 240 MW Khauta South photovoltaic project in South Africa reaches Final Project Development Milestone 18.06.2025 / 10:33 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

 PNE’s 240 MW Khauta South photovoltaic project in South Africa reaches Final Project Development Milestone

• Milestone based on Financial Close between NOA and Standard Bank
• Major step for PNE’s activities in South Africa

 Cuxhaven, 18 June 2025 – PNE Group is once again internationally successful. At the beginning of June 2025, Standard Bank confirmed financial close on the 240MW Khauta South PV site. In addition, financial close for the 110MW Khauta West PV site is expected by the end of July 2025. Financial close marks the final payment milestone in the sales and development services agreements, and thus the completion of the project for WKN Windcurrent (PNE Group’s South African Development team). Early construction has already begun and is expected to be completed in early 2027.

In early 2024, PNE AG closed the sale and development services agreement for two photovoltaic (PV) projects (Khauta South and Khauta West), with a total output of 350 MW, to the South African energy company NOA Group Ltd (NOA). Since then, WKN Windcurrent and NOA have worked together to secure grid capacity for both sites, and to complete the remaining tasks needed reach financial close. 

“Financial Close on the Khauta South Solar PV project is a major achievement, and the PNE-Group is proud to have played a key role in its early-stage development”, Heiko Wuttke, CEO of PNE says. “We worked seamlessly with NOA’s development team to accomplish this major milestone. This milestone demonstrates once again that PNE is a reliable project developer and partner even after the sale of a project.”

“This deal is testament to the power of partnership and the shared commitment between NOA and WKN to accelerate the build out of large scale renewable energy in South Africa. We’re excited about the future of the Khauta project and its contribution to a cleaner, more resilient energy sector in South Africa”, Karel Cornelissen, CEO of NOA, says.