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MarketScreener Homepage  >  Equities  >  Xetra  >  PNE AG    PNE3   DE000A0JBPG2

PNE AG

(PNE3)
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PNE : strengthens its position in the field of power purchase agreements (PPA)

11/05/2020 | 03:52am EST

05. Nov 2020

PNE AG strengthens its position in the field of power purchase agreements (PPA)

Cuxhaven, October 5, 2020 - PNE AG has further strengthened its position in the business of brokering power purchase agreements (PPAs). The company has recently concluded contracts with wind farm operators for electricity from wind turbines amounting to around 400 GWh. An additional capacity of 1.2 TWh is in the final negotiation stage. The project developer and wind farm operator PNE has been active in this market since 2019.

As regards the contracts currently concluded, the customers are wind farm operators, which face the challenge of being able to continue to adequately market their clean wind power even after the abolition of the fixed EEG remuneration. The aim is to ensure the continued profitable operation of the wind farms after the end of the remuneration guaranteed by law.

PNE bundles the electricity volumes of various wind farm sites and takes over the structuring and negotiation of the power purchase agreement. As a result, it was possible to negotiate power purchase agreements that offer a high degree of flexibility and decision-making autonomy to the wind farm operators. In this way, operators have complete freedom of choice between price fixing for future delivery years on the futures market or selling their electricity volumes on the spot market. In addition, a significant step towards repowering was achieved. Should repowering become possible during the term of the power purchase agreement, the wind farm operator now has corresponding exit options to enable the construction of the new repowered wind farm.

PNE will also support the wind farm operators in exercising their options for action during the entire term of the power purchase agreement. On the one hand, this includes the price fixing for the following years and, on the other, the possible terms of the price fixing based on the fundamental hedging strategy of the entire wind farm.

Disclaimer

PNE AG published this content on 05 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 08:51:02 UTC


© Publicnow 2020
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