German PNE Sells US Division with 3-GW Development Pipeline

US infrastructure investor Lotus Infrastructure Partners has acquired the US arm of German renewables developer PNE AG , taking hold of its 3GW plus development pipeline of wind, solar and storage projects.

Following the deal, Chicago-based PNE USA will be renamed Allium Renewable Energy. The change will be made with immediate effect, Lotus said on Thursday without disclosing the value of the purchase.

The acquired business has developed and monetised 877MW of wind and solar projects to date and now has a pipeline of 18 projects. The schemes deploying wind, solar photovoltaic (PV) and energy storage technologies are at differing stages of development.

"Allium's development strategy aligns closely with our own, and we believe the team's unique project identification and commercialisation capabilities will significantly expand Lotus's existing renewable development efforts,” said Alex Daberko, managing director at Lotus.

PNE said separately that the divestment of its US unit aligns with the group’s strategy to focus its operations on the European market and grow as an independent power producer (IPP).