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PNE Wind buys stake in German developer WKN

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PNE Wind AG, the German wind-power company has purchased approx. 54% of the shares in the wind farm development specialist, WKN AG, from the former majority shareholder Volker Friedrichsen Beteiligungs-GmbH, Cuxhaven-based PNE Wind said in a statement Friday. WKN is worth about €93 million, PNE said, valuing the transaction at €50 million. PNE didn’t disclose a purchase price. WKN, with 177 employees at the end of last year, has developed more than 1,100 megawatts of wind including sales of project rights and is advancing more than 1,700MW, according to the statement. Siemens AG holds a 29.3% stake in WKN through its Siemens Project Ventures GmbH unit. PNE is active in Germany, Hungary, Romania, Bulgaria, Turkey, Great Britain, US and Canada, WKNs experts work on projects in Germany, France, Poland, Italy, US, Sweden, South Africa, Ukraine and Great Britain.

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