PNE Wind is negotiating the sale of its remaining 20% stake in a 142MW wind portfolio to a fund managed by Allianz Global Investors.
The potential buyer is the Allianz Renewable Energy Fund II, which acquired an 80% interest in the portfolio at the end of last year.
The agreement to sell the outstanding 20% is expected to be finalised before the end of the year, subject to approval by merger control authorities, PNE said.
The company added that the deal will help finance the establishment of a new European wind portfolio with a capacity of up to 200MW.
The first wind farms in the portfolio totalling 43MW will be commissioned by the end of 2017.
PNE will continue to invest in the portfolio and plans to sell all or part of it in 2020.
Image: PNE Wind
Allianz eyes PNE remains
Talks underway on sale of remaining 20% stake in 142MW wind portfolio
By EBS