PNE Wind takes control at WKN

A PNE onshore wind farm

A PNE onshore wind farm

PNE Wind has bought a majority stake in its fellow German developer WKN.

PNE said it bought about 54% of WKN’s shares to create “a new leading internationally active wind farm project developer”.

WKN, based in Husum, has fully developed projects totalling more than 1.1GW and has a 1.7GW pipeline.

It is active in Germany, France, Poland, Italy, the US, Sweden, South Africa, Ukraine and the UK.

Cuxhaven-based PNE is developing onshore projects totalling about 3.1GW in Germany and elsewhere, and is active in the offshore market.

The price paid by PNE values WKN as a whole at about €93m ($122m), and it will meet the cost through a mixture of cash and Log in to read complete article.

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