Allianz prepares PNE plunge
Investment arm to buy 80% of 142MW yieldco portfolio
PNE Wind is in an advanced stage of negotiations with AREF II Renewables Investment Holding regarding the sale of an 80% share in its YieldCo Deutschland.
The purchaser is managed by Allianz Global Investors and concluded its fundraising with institutional investors in November, PNE said.
PNE Wind and Allianz Global Investors today filed for approval of the transaction with the German Federal Cartel Authority.
The parties expect the sale to be complete in the next two to three weeks.
As well as the 142.5MW of wind farms in the YieldCo's portfolio, there is also an option for Allianz to buy a further 9.9MW from PNE Wind Group.
Image: PNE Wind