PNE WIND AG is in the advanced stage of negotiations with AREF II Renewables Investment Holding for the sale of an 80% shareholding in PNE WIND YieldCo Deutschland GmbH.
The purchaser, a subsidiary company 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 in November 2016.
For this purpose, PNE WIND and Allianz Global Investors recently agreed on exclusivity and have 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 next couple of weeks.
PNE WIND has bundled in PNE WIND YieldCo Deutschland wind-farm projects for a total of 142.5 MW together, with an option to purchase a further 9.9 MW from PNE WIND Group. The conclusion of the agreement shall make a significant contribution to accomplish the earning targets of PNE WIND for this year.
Filed Under: News, Projects