PNE to invest EUR 1.6bn by 2027 to grow green power generation

German wind power-focused renewables company PNE AG (ETR:PNE3) is planning to invest some EUR 1.6 billion (USD 1.65bn) by 2027 to expand its own portfolio of green energy capacity.

The company seeks to increase its own electricity generation capacity to 1,500 MW/MWp by then, from 283 MW at the end of September, through a massive expansion of onshore wind and solar energy.

PNE's investments in onshore wind are focused on the markets in Germany, France and Poland while its solar plants are located in Italy and Spain.

The planned investments will include external project financing and own funds.

The expansion of project development and future technologies will also be grown through additional investments.

The Cuxhaven-based renewable power company aims to nearly double its project pipeline to over 20 GW/GWp by 2027 from 11.4 GW/GWp in September. Half of the pipeline should be made up of onshore wind projects with solar contributing 8 GWp and offshore wind adding a further 2 GW.

Wind and solar projects that have been already developed and are not located in the markets for internal power generation will be sold. Annually, the company plans to sell such projects with a total capacity of more than 600 MW/MWp.

The services segment is also set to grow to over 3,500 MW of solar and wind projects under management.

(EUR 1 = USD 1.032)

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