German wind farm developer PNE has agreed to offload its five solar photovoltaic (PV) projects in Romania to TotalEnergies Renewables, a unit of French energy giant TotalEnergies.
With a combined capacity of 208MW, the five solar PV projects are currently in the development phase.
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PNE will manage further development of the projects until they reach the ready-to-build phase.
The financial terms of the deal were not made public.
TotalEnergies Renewable Explorer – New Markets vice-president Marin de Montbel stated: “The acquisition of these five solar projects in Romania is a perfect example of TotalEnergies’ commitment to expand its renewable energy activities in this country and more generally in eastern Europe in support of the green deal.
“The development of these projects allows us to leverage the company’s expertise in solar power generation and strengthen our presence in eastern Europe by acquiring a portfolio of solar projects in Poland with a total capacity of 200MW.”
PNE has so far developed and sold 510MW/MWp (megawatt peak) of wind and solar projects in Romania, and has 1GW of projects in its development pipeline.
PNE CEO Markus Lesser stated: “We are pleased that TotalEnergies trusts in our many years of expertise in the field of photovoltaics. This agreement confirms that PNE’s ‘Scale Up 2.0’ strategy is well-received in the industry.
“Through the delivery of ready-to-build projects, PNE is expanding its robust business model and at the same time increasing the value of the company.”
