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PNE sells 3GW US arm to focus on European growth

RICHARD HEAP

June 7, 2024

US investor Lotus Infrastructure Partners has bought German developer PNE’s US division, which owns 3GW of wind, solar and storage developments.

The companies have not disclosed the value of the deal. Lotus is set to make an initial payment when the deal closes, and further payments that depend on the progress of PNE USA’s 18 projects.

PNE said the sale would enable its colleagues in PNE USA to continue working on the US developments they have initiated, while PNE can focus on its expansion as an independent power producer in Europe.

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