German renewable energy developer PNE has sold two solar PV projects in Romania and the U.S. with a total capacity of around 280 MW.
Israel-based Econergy International acquired the 81 MW solar project in Romania, which is under development in Oradea. Econergy expects to continue the further realization of the project.
The second project is a 199 MW solar PV project in the early development stage in the U.S. The 199 MW solar project has been acquired by an undisclosed operator in the U.S.
Upon completion, the project’s second phase can achieve a nominal output of 398 MW in Utah.
With these two transactions, PNE is implementing its strategic development towards becoming a Clean Energy Solutions Provider. These are the first PV projects that could be sold as part of the expanded strategy.
“The sale of these two PV projects is a milestone in the strategic development of our business model, which proves that we are on the right track. In addition to wind energy, we are now also developing photovoltaic projects in seven countries in Europe, the U.S., and South Africa. We are currently working on PV projects with a nominal output of over 1,000 MW. In this way, together with our partners, we are making an important contribution to the global energy revolution,” commented Markus Lesser, CEO of PNE AG.
According to Mercom Research, in January 2021, PNE USA, a subsidiary of PNE, a publicly-traded renewable energy company based in Germany, acquired four solar projects totaling 280 MW located in the MISO, PJM, and WECC markets, U.S.
According to Mercom’s Q4 2021 solar funding and M&A report, there were 280 large-scale solar project acquisitions in 2021 compared to 231 transactions in 2020.