PNE AG acquires majority in Spanish developer 

• Acquisition of 51% in KOLYA
• PV project pipeline of PNE AG increases to a total of 4,216 MWp
• Market entry in Spain through shareholding

Cuxhaven, 27 July 2022 – PNE AG has acquired 51% of the shares in Coliaenergia ESPAÑA, S.L (KOLYA), a Spanish developer for large solar projects based in Albacete. With the acquisition of these shares and the 1,808 MWp thereby contributed as well as PNE's own gains in the PV sector in the second quarter of 2022, the company's PV project pipeline increases by over 40 percent to a total of 4,216 MWp. With this acquisition, PNE AG is also entering the Spanish market. The sellers are Consultoria Industrial Beaguihe, S.L. and GARISUN RENOVABLES S.L. The purchase price is in the single-digit million range and is partly dependent on the success of the project development. Both parties have agreed not to disclose the specific amount.

PNE AG has successfully built up its solar business in recent years and already has a strong solar pipeline of 2,408 MWp (as of 30 June 2022). In the second quarter of 2022 in particular, this had once again risen strongly by 985 MWp from 1,423 MWp (as of March 31, 2022) to the current level. With the majority acquisition of KOLYA, this will increase significantly once again. The new partner's 1,808 MWp PV project pipeline is made up of projects with a nominal capacity of around 1,004 MWp for its own project development and around 804 MWp that are being developed for internationally active and renowned third parties.

The KOLYA team currently consists of two managing directors and six employees. Initial areas for the development of wind projects are also included in KOLYA's portfolio and complement the technology spectrum

"The acquisition of the majority stake in KOLYA is an important cornerstone in our strategic development in becoming a Clean Energy Solutions Provider. This expands our "pipeline" of ongoing PV projects to a total of 4,216 MWp. We see further attractive prospects for our activities in this area and look forward to working with our new partners" explained Markus Lesser, Chairman of the Board of Management of PNE AG. "With the entry into the Spanish market, which is characterised by excellent natural conditions for solar and wind energy and the good legal framework for renewable energies, we see multiple opportunities to further develop our business model," Lesser continues.

“The transaction is the perfect opportunity for KOLYA to evolve in its development operations within the Spanish market, with a leading company as a partner, and focusing its resources on contributing to the energy transition and sustainability in Spain,” explained Héctor García, Manager Director of KOLYA.

About the PNE Group

The internationally operating PNE Group with its brands PNE and WKN is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed into a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the company's services encompass all phases of project development and operation. In addition to wind energy, the company's range of offers includes photovoltaics, electricity storage, service products and the supply of clean electricity. PNE is also focussing on the development of power-to-X solutions.

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