PNE buys out German wind project developer WKN

"Courtesy of PNE WIND AG"

July 25 (Renewables Now) - German clean energy solutions provider PNE AG (ETR:PNE3) has taken full control of Husum-based wind project developer WKN AG as part of its “scale up” strategy.

PNE announced today it has increased its stake in WKN to 100% from 89.1% previously, without saying how much it paid for the shares it did not already have. The company bought its initial 83% interest in WKN back in 2013 and acquired more shares in February 2018.

PNE’s CEO Markus Lesser commented that the buyout will allow “to further optimise workflows and processes and additionally strengthen the existing operational integration of the two companies”. He added that the move provides for realising additional synergies and increasing productivity.

Earlier this month, WKN handed over to John Laing Group plc (LON:JLG) a couple of wind parks in France totalling 32 MW.

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