PNE has sold a 59MW wind farm in Germany to Qualitas Energy Deutschland.
Papenrode wind farm (pictured) is a repowering underway in the municipalities of Groß Twülpstedt and Bahrdorf in Lower Saxony.
It consists of nine turbines and has a rated output of 59.4MW, a fivefold increase on the old array which had 15 turbines.
The start of operation is scheduled for the second quarter of 2025.
PNE chief executive Per Hornung Pedersen said: “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.
“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.”
PNE chief operating officer Roland Stanze added: “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.”
Head of investments at Qualitas Energy Deutschland Johannes Overbeck said: “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.”