PNE AG Sells Papenrode Wind Farm to Qualitas Energy, Boosting Renewable Energy Production in Lower Saxony

PNE AG Sells Papenrode Wind Farm to Qualitas Energy, Boosting Renewable Energy Production in Lower Saxony

(IN BRIEF) PNE AG has completed the sale of the Papenrode wind farm to Qualitas Energy Deutschland GmbH, enhancing the renewable energy landscape in Lower Saxony. The repowering project, which is currently under construction, will feature nine new turbines with a capacity of 59.4 MW and is expected to begin operations in the second quarter of 2025. This project marks a fivefold increase in electricity production compared to the previous setup. PNE AG’s CEO, Per Hornung Pedersen, highlighted the successful collaboration with various stakeholders and emphasized the company’s commitment to reinvesting proceeds into further growth. Qualitas Energy aims to promote sustainable energy solutions and is excited about the partnership with PNE.

(PRESS RELEASE) CUXHAVEN, 6-Nov-2024 — /EuropaWire/ — PNE AG has finalized the sale of the Papenrode wind farm to Qualitas Energy Deutschland GmbH, a transaction that underscores the growing momentum in the renewable energy sector. Situated in the municipalities of Groß Twülpstedt and Bahrdorf in Lower Saxony, the repowering project is currently under construction and will feature nine turbines with a total capacity of 59.4 MW. The wind farm is slated to commence operations in the second quarter of 2025, representing a significant enhancement in electricity generation.

Per Hornung Pedersen, CEO of PNE AG, expressed satisfaction with the handover, stating, “We are excited to transfer this high-quality project to a turnkey investor. Qualitas Energy, with its expertise in the acquisition, development, construction, and operation of wind farms, is the ideal partner for this endeavor. Our longstanding commitment to the planning, development, financing, and construction of premium wind projects is reflected in the successful completion of this transaction, showcasing our esteemed reputation in the industry. As we move forward, the proceeds from this sale will be reinvested in the continued profitable growth of our company and the expansion of our operations.”

Roland Stanze, Chief Operating Officer at PNE AG, highlighted the collaborative effort involved in the project, noting, “This remarkable project was developed in close partnership with landowners, municipalities, and local authorities, all working toward a common objective. I extend my gratitude for the constructive and solution-oriented cooperation we experienced throughout this process.”

Johannes Overbeck, Head of Investments at Qualitas Energy Deutschland GmbH, reflected on the partnership, stating, “We are particularly pleased with the excellent and collaborative relationship we established with PNE during this transaction. Qualitas Energy is dedicated to ambitious investment goals that promote the energy transition in Germany. Our investment strategy focuses on identifying projects that are both ecologically and economically viable, ensuring their success in close collaboration with local stakeholders.”

The planning for the Papenrode wind farm began in 2016, which involved the dismantling of an existing facility with 15 older turbines before the new construction could commence. Despite the reduction in the number of turbines, the new wind farm will achieve a fivefold increase in electricity production, making a significant contribution to the energy transition and climate protection efforts.

About Qualitas Energy 

Qualitas Energy has been managing investments exceeding €12 billion in renewable energy globally since 2006. These investments span five vehicles: Fotowatio / FRV, Vela Energy, Qualitas Energy III, Qualitas Energy IV, and Qualitas Energy V. The company’s portfolio currently includes over 11 GW of operational and developmental energy assets across countries such as Spain, Germany, the UK, Italy, Poland, and Chile. This encompasses 4 GW of wind, 7 GWp of solar photovoltaic, 242 MW of solar thermal power, 1.8 TWh of renewable natural gas, 6 MW of battery storage, and 60 MW of hydroelectric assets. Since 2020, the green energy produced by Qualitas Energy has been sufficient to power 1.54 million homes, while also successfully avoiding 1.32 million metric tons of CO2 emissions since 2021. The team at Qualitas Energy comprises over 500 professionals operating from fifteen offices in major cities including Madrid, Berlin, London, Milan, and Hamburg.

This press release was authored to highlight the strategic sale of the Papenrode wind farm and its implications for the renewable energy landscape.

Media Contact:

Alexander Lennemann
Spokesperson
+49 (0) 151-559 686 50
alexander.lennemann(at)pne-ag.com

SOURCE: PNE AG