PNE acquires stake in Spanish solar developer Kolya

German developer PNE has acquired stake in Spanish solar developer Kolya. The company has acquired 51% of the shares in the later company.

According to PNE, it secured the stake from Consultoria Industrial Beaguihe and Garisun Renovables. With this acquisition, PNE is also entering the Spanish market.

It has been reported that the “agreement will see the company’s pipeline increase by over 40% to a total of 4,216MWp.”

A local report mentioned, “Coliaenergia’s 1,808MWp PV project pipeline is made up of projects with a nominal capacity of around 1,004 MWp for its own project development and around 804 MWp that are being developed for internationally active third parties.”

"The acquisition of the majority stake in Kolya is an important cornerstone in our strategic development in becoming a clean energy solutions provider,” Markus Lesser, Chairman of the board at PNE, was quoted.

With this, the company plans to expand its pipeline of PV projects to a total of 4,216 MWp.

"With the entry into the Spanish market, which is characterised by excellent natural conditions for solar and wind energy and the good legal framework for renewable energies, we see multiple opportunities to further develop our business model,” he was further quoted.