PNE AG: Latin America - Hub in Panama

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DGAP-Media / 2019-02-22 / 09:26 
 
*Press release* 
 
*PNE AG: Latin America - Hub in Panama * 
 
*- *Implementation of the strategic orientation "Scale up" 
 
- Great potential for wind energy and photovoltaics in Latin America 
 
- Five advanced projects taken over in Panama 
 
Panama/Cuxhaven, February 22, 2019 - Internationally operating project 
developer PNE AG now also enters the market for renewable energies in Latin 
America. Panama will become PNE AG's hub for the development of business in 
this region. As part of its "Scale up" strategy, PNE AG has defined the 
entry into foreign markets as an important cornerstone of its future 
economic development and is now implementing this in an impressive manner. 
 
Markus Lesser, CEO of PNE AG, comments on this expansion of international 
activities: "In Latin America, we see great potential for the expansion of 
renewable energies - both in wind energy and in photovoltaics. Therefore, 
this step means the consistent implementation of our strategy in a promising 
region." 
 
Via subsidiaries, five projects in Panama have now been taken over from 
innoVent Central America S.A., Panama, which is a subsidiary of innoVent 
GmbH in Varel, Germany. Some of the projects are already at a very advanced 
stage of development. 
 
According to the International Renewable Energy Agency (IRENA), around 270 
MW of wind energy and around 130 MW of photovoltaic projects have so far 
been installed in Panama. The aim is to significantly expand the capacities 
in the future. The Central American country not only enjoys frequent 
sunshine but also very good wind conditions. 
 
The essential steps towards approval of the mentioned projects have already 
been completed. Depending on the project, some of the sites have already 
been fully secured, and the necessary expert opinions, grid connection 
studies and extensive results from wind measurement campaigns are available. 
 
In Panama, PNE is counting on the market and the increasing demand for 
renewable energies. The electricity generated in the projects after 
commissioning will be marketed via direct power purchase agreements (PPAs) 
under private law, as no tenders are expected in Panama in the near future. 
The regulatory framework in Panama supports these considerations. 
 
As a result of its entry into the Panamanian market, PNE AG now operates in 
14 countries on three continents in the development of projects for the 
generation of electricity from clean energies. 
 
*About the PNE Group* 
 
The internationally operating PNE Group with its brands PNE and WKN is one 
of the most experienced project developers of onshore and offshore wind 
farms. Based on this success, the Group has developed to become a "clean 
energy solutions provider". From initial site exploration and implementation 
of approval procedures via financing and turnkey construction to operation 
and repowering, the Company's services encompass all the phases of 
developing and operating wind farms. In addition to wind energy, in the 
future, the Company's range of offers will include photovoltaics, 
electricity storage, services and the supply of clean electricity. In this 
context, PNE is also involved in the development of power-to-gas solutions. 
 
*Contacts for enquiries* 
 
*PNE AG*                      *PNE AG* 
Rainer Heinsohn               Christopher Rodler 
Corporate Communications      Investor Relations 
Tel: [phone]     Tel: [phone] 
Fax: [phone]     Fax: [phone] 
Rainer.Heinsohn(at)pne-ag.com Christopher.Rodler(at)pne-ag.com 
 
End of Media Release 
 
Issuer: PNE AG 
Key word(s): Energy 
 
2019-02-22 Dissemination of a Press Release, transmitted by DGAP - a service 
of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
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Language: English 
Company:  PNE AG 
          Peter-Henlein-Straße 2-4 
          27472 Cuxhaven 
          Germany 
Phone:    04721 / 718 - 06 
Fax:      04721 / 718 - 200 
E-mail:   [e-mail] 
Internet: http://www.pne-ag.com 
ISIN:     DE000A0JBPG2, DE000A2LQ3M9, , DE000A12UMG0, 
WKN:      A0JBPG, A2LQ3M, , A12UMG, 
Listed:   Regulated Market in Frankfurt (Prime Standard); Regulated 
          Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, 
          Stuttgart, Tradegate Exchange 
 
End of News DGAP Media 
 
780011 2019-02-22 
 
 

(END) Dow Jones Newswires

February 22, 2019 03:26 ET (08:26 GMT)