PNE AG Massively Accelerates the Scale up of the Business

Source: 11/17/2022, Location: Europe

• Own generation portfolio to be expanded to 1,500 MW/MWp
• Increase in project pipeline to more than 20,000 MW/MWp planned
• Investments are strengthened
• Fourfold increase in EBITDA expected

PNE AG has completed the transformation to a clean energy solutions provider, which began in 2017, and can look back on the successful implementation of the "Scale up" strategy. PNE is now setting the course for the future. The company continues to develop the strategy and starts a new phase of accelerated growth with "Scale up 2.0".

PNE is thus responding both to the positive business development of recent years and to the current market environment, which promotes a growing demand for clean energy solutions and the accelerated expansion of renewable energies. Climate protection and independent energy supply can only succeed with the rapid expansion of renewable energies.

"Building on the robustness and successful development of our segments "project development", "services" and "electricity generation", we have reached a new order of magnitude and are getting closer to our vision of 100 percent energy supply through renewable energies. The complementary business segments will stabilise the earnings of the PNE Group, create synergies and thus offer high growth potential. We will expand and scale up our proven, successful business model. In doing so, we take advantage of market opportunities for the expansion of clean energies. At the same time, we are minimising the risks even further with our resilient business model," said Markus Lesser, Chief Executive Officer of PNE AG.

Project development: Expansion of the project pipeline and future technologies
In its core business, the PNE Group drives forward developments in the areas of wind onshore, wind offshore and photovoltaics (PV). The focus is also on future technologies such as hybrid projects with electrolysers, battery and gas storage systems as well as heat generators (CHP). In this context, PNE will also expand its technical competence for the development, construction and operation of power-to-X and battery solutions.

By 2027, PNE AG intends to increase its project pipeline to more than 20 GW/GWp (as of September 2022: 11.4 GW/GWp). In addition to 10 GW of onshore wind projects, the pipeline is expected to include around 8 GWp of PV projects and, beyond that, offshore wind projects of a further 2 GW.

Electricity generation: Massive expansion of own generation portfolio
As regards electricity generation, PNE aims at a significant expansion of its existing portfolio in the wind onshore and PV sectors. PNE builds up its electricity generation portfolio based on its own project development activities and strives for a total output in electricity generation from own operations of 1,500 MW/MWp by 2027 (as at September 2022: 283 MW). An additional focus is also placed on the continuous optimisation of all plants in order to ensure high technical availabilities and an optimised yield structure. PNE invests in wind farms and PV projects for own generation in the markets of Germany, France and Poland, and exclusively in PV in the markets of Italy and Spain.

Services: Expansion of life cycle management
The PNE Group aims to become one of the leading operational management companies in Europe. In the "services" segment, the company plans to manage wind and PV projects with a total capacity of more than 3,500 MW. In this respect, the focus is on additional service products in the areas of electricity trading, optimisation of wind and PV projects, life cycle management of renewable energy projects and engineering services, such as island solutions based on clean energies.

Increased investments
PNE intends to invest around euro 1.6 billion in its own portfolio by 2027, which is to be made up of external project financing and own funds. Additional investments will flow into the expansion of project development and future technologies.

PNE will continue to sell developed projects that are outside the markets for internal electricity generation in order to have funds for investments. The plan is to sell wind and photovoltaic parks with a total capacity of more than 600 MW/MWp on average each year.

Markus Lesser explains: "We have the necessary knowledge and the means to be able to implement our strategy on our own. With Scale up 2.0, we have set ourselves the goal of improving in all areas and increasing our EBITDA to more than euro 150 million by 2027. We are looking to the future with boundless energy and we expect to see significantly accelerated growth in the coming years."

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