PNE sells Papenrode wind farm to Qualitas Energy

Corporate News

 PNE sells Papenrode wind farm to Qualitas Energy

• Repowering project with a capacity of 59.4 MW
• A fivefold increase in the production of electricity

 Cuxhaven, 05 November 2024 – PNE AG has sold the Papenrode wind farm to Qualitas Energy Deutschland GmbH. The repowering project is located in the municipalities of Groß Twülpstedt and Bahrdorf in Lower Saxony and is currently under construction. It consists of nine turbines and has a rated output of 59.4 MW. The start of operation is scheduled for the second quarter of 2025.

"We are pleased that we can hand over this high-quality project to an investor turnkey-ready. With Qualitas Energy, a company focused on acquisition, development, construction and operation of wind farms will be taking over the wind farm," says Per Hornung Pedersen, CEO of PNE AG. "Planning, development, financing and construction of high-quality wind farms have been our core competence for decades. The completion of the project shows just how good a reputation we have in the industry and with investors. In line with our corporate strategy, we will continue to invest the proceeds of this sale in the profitable growth of our group of companies and the expansion of our own operations."

Roland Stanze, Chief Operating Officer (COO) at PNE AG, adds: "We developed this amazing project in close cooperation with the landowners, the municipalities and the local authorities. We were all focused on one shared goal. Thank you for the good and solution-oriented cooperation."

Johannes Overbeck, Head of Investments at Qualitas Energy Deutschland GmbH, emphasizes: “We are particularly pleased about the excellent and cooperative partnership with PNE during this transaction process. Qualitas Energy is pursuing ambitious investment goals to accelerate the energy transition in Germany. Our investment strategy aims to identify projects that are both ecologically and economically sustainable and brings them to success in close cooperation with the people on site."

Planning for the Papenrode wind farm began in 2016. First, the existing wind farm with 15 old wind turbines had to be rebuilt before construction of the new wind turbines could begin. Although the new wind farm consists of significantly fewer wind turbines, electricity production will increase fivefold. The wind farm thus makes a major contribution to the energy transition and to climate protection.

About the PNE Group

The internationally operating, listed PNE Group is included in the SDAX as well as the TecDAX. For more than 30 years, it has been one of the most experienced project developers in the field of onshore and offshore wind farms. The focus is on the development of wind energy and photovoltaic projects worldwide as well as on electricity generation with its own wind farms. Its portfolio covers all project planning phases, from site investigation and the implementation of the approval procedures, through financing and construction, to operation and repowering. As a clean energy solutions provider, the PNE Group also offers services for the entire life cycle of wind farms and photovoltaic plants. The PNE Group is a sought-after partner to industry for solutions for the refinement of electricity via power-to-X technologies.

About Qualitas Energy 

Since 2006, the Qualitas Energy team has managed investments of over €12 billion in renewable energies worldwide. These investments have been deployed through five vehicles: Fotowatio / FRV, Vela Energy, Qualitas Energy III, Qualitas Energy IV, and Qualitas Energy V. Qualitas Energy’s portfolio currently holds more than 11 GW of operational and development energy assets across Spain, Germany, the UK, Italy, Poland, and Chile. This includes 4 GW of wind, 7 GWp of solar PV, 242 MW of solar thermal power (CSP), 1,8 TWh of renewable natural gas, 6 MW of battery, and 60 MW of hydroelectric power assets. Since 2020, green power produced by Qualitas Energy is the equivalent of powering 1.54 million homes with renewable energy, and since 2021 it has successfully avoided emissions of 1.32 million metric tons of CO2 equivalent. The Qualitas Energy team is composed of more than 500 professionals across fifteen offices in Madrid, Berlin, London, Milan, Hamburg, Wiesbaden, Trier, Cologne, Stuttgart, Warsaw, Wroclaw, Santiago, Durham, Bristol, and Edinburgh.