WKN, a company within the PNE Wind Group, sells two french wind projects
Investment by Quaero European Infrastructure Fund
WKN AG, a leading developer of wind energy farms based in Husum, Germany, sold the French wind projects Longèves and Riaucourt to Quaero European Infrastructure Fund at the end of 2017.
Wind farm Longèves is situated in the Western part of France and consists of three wind energy turbines Nordex N117 each with three megawatts installed capacity. The fully approved project had already been under construction since summer of 2017. At the end of 2017 the turn-key wind farm has been commissioned with the total capacity of nine megawatts. The transaction will generate effects on the fiscal year 2017.
The project Riaucourt that has been sold to Quaero consists of five wind energy turbines and is situated in the North-Eastern part of France. Depending on the selected turbine type the total capacity of the wind farm will amount among up to 12.0 megawatts. The project is consistently approved, a grid connection has been pre-negotiated with an energy provider. Realization and construction are scheduled for 2019. Sale of this project will have its effects on the fiscal year 2018.
Thus, WKN AG, being part of the PNE WIND Group, continues its successful international business with regard to the development of international turnkey as well as ready-to-build wind farms. “Especially France is very interesting for us and also for our business partners,” comments Roland Stanze, COO of WKN AG, on the current transaction in one of the key markets of the Husum based company.
“The PNE WIND Group’s project development and realization competence is highly recognized and demanded at home and abroad”, adds Markus Lesser, CEO of PNE WIND Group. “Sales successes like these and further more projects being developed right now confirm our strategic focus.”
“We are very happy with our collaboration with WKN. This transaction fits perfectly within our strategy to team up with key industrial partners with a view to develop infrastructure projects and acquire strong roots in the renewable sector”, states Sébastien Bourget, Managing Partner of Quaero Capital and Head of Quaero European Infrastructure Fund.
WKN AG has planned, installed and operated turnkey wind energy farms in Germany since 1990. In addition, WKN AG is internationally represented by subsidiaries and joint-ventures in numerous European countries, South Africa and the US. Up to now, the company has initiated and realized projects with a total of about 1,350 megawatts capacity.
The headquarters of the WKN-Group are located at the “House of Future Energies”, an established centre of excellence for renewable energy sources in Husum/Germany. About 83 percent of WKN shares are owned by PNE WIND AG located in Cuxhaven/Germany while approx. 17 percent are held by private and institutional shareholders.
Quaero European Infrastructure Fund
Launched in October 2015 by Quaero Capital, Quaero European Infrastructure Fund is a French fonds professionnel de capital investissement investing equity into infrastructure projects in sectors such as, transport, social infrastructure, telecom, energy, and utilities in Europe. Quaero Capital manages EUR 275 M for this infrastructure strategy. The fund manager Quaero Capital is an independent asset management company with headquarters in Geneva and offices in Paris, Zurich, Luxembourg and London. Quaero Capital is operating with the agreement from both the French Monetary Authority (AMF) and the Swiss FINMA.