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PNE has raised its stake in WKN to 100%

PNE acquires the remaining 10.9% in WKN AG

Cuxhaven, July 25, 2018 - The internationally operating project developer PNE AG has increased its stake in the subsidiary WKN AG, based in Husum, from 89.1% to 100% as part of the implementation of the "scale up" strategy.

As a first step, PNE acquired a majority stake of almost 83% in WKN AG in 2013. In February 2018, PNE increased its stake to 89.1%. Now, the company has acquired the remaining 10.9% as a final step. The parties have agreed not to disclose the purchase price.

PNE CEO Markus Lesser: "Increasing our stake to 100% represents another milestone in the implementation of our "Scale up" strategy. This will enable us to further optimise workflows and processes and additionally strengthen the existing operational integration of the two companies. In this way, we can realise additional synergies and increase productivity."

 

PNE Group

PNE Group, a company operating on an international level with two brands, PNE and WKN, is one of the most experienced project developers in the field of onshore and offshore wind farms. Based on this success, the Company has developed to become a "clean energy solutions provider." In addition to wind energy, in the future the Company's offer will include photovoltaic, electricity storage and power-to-gas technologies with a focus on hydrogen.

 

WKN AG

WKN AG has planned, installed and operated turnkey wind energy farms in Germany since 1990. In addition, WKN AG is internationally represented by subsidiaries and joint-ventures in numerous European countries, South Africa and the US. Up to now, the company has initiated and realized projects with a total of about 1,450 megawatts capacity. The headquarters of the WKN-Group are located at the "House of Future Energies", an established center of excellence for renewable energy sources in Husum/Germany. WKN is a wholly owned subsidiary of PNE AG, Cuxhaven.

 

For more information, please contact:

PNE AG

Rainer Heinsohn

Corporate Communications

Tel: +49(0) 47 21 - 7 18 - 453

Fax: +49(0) 47 21 - 7 18 - 373

Rainer.Heinsohn(at)pne-ag.com

 

PNE AG

Christopher Rodler

Investor Relations

Tel: +49(0) 47 21 - 7 18 - 454

Fax: +49(0) 47 21 - 7 18 - 373

Christopher.Rodler(at)pne-ag.com

 

WKN AG

Maike Hansen

Communications & Marketing

Tel: +49(0) 48 41 - 8944 - 100

Fax: +49(0) 48 41 - 8944 - 225

Maike.Hansen(at)wkn-ag.de