PNE bolsters WKN stake
Enercity sells 6% interest for undisclosed price to German developer
PNE Wind has acquired the 6% share owned by Enercity in Windkraft Nord (WKN) for an undisclosed price.
Enercity acquired the stake in WKN, which has operations in the EU, US and South Africa, in 2002.
Enercity chief executive Susanna Zapreva said the shareholding had been sold because it no longer fits with the company's strategy.
“On the one hand, with a share of 6%, we are not in a position to steer the company strategically; on the other hand, the US and South Africa are not our target areas,” she said.
The company is looking at renewables expansion in Germany and the Baltic states, Zapreva added.
PNE Wind has been the majority shareholder in WKN since 2013.