PNE sells 240 MW photovoltaic project to NOA Group in South Africa

EQS-News: PNE AG / Key word(s): Miscellaneous
PNE sells 240 MW photovoltaic project to NOA Group in South Africa

10.04.2024 / 10:05 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Corporate News

PNE sells 240 MW photovoltaic project to NOA Group in South Africa

  * Project is being developed in a province characterised by strong mining
    and agriculture sectors

* PNE Pipeline comprises around 4 GW/GWp in South Africa

Cuxhaven, 10 April 2024 - PNE AG is once again internationally successful.
In South Africa, the company sold a photovoltaic project with a total output
of 240 MW to the South African energy company NOA Group Ltd. The Khauta
project will be implemented in the Free State province in central South
Africa, whose economy is primarily characterised by strong mining/resources
and agricultural sectors. The project is expected to reach the fully
developed phase by mid-2024. Through WKN Windcurrent, which belongs to the
PNE Group, PNE will now continue to support the project further. There is a
possibility for the project size to be extended.

Markus Lesser, CEO PNE AG, says: 'We are delighted that we are able to
successfully follow up on the sale of projects in our international markets
in 2024. South Africa is an exciting market. With NOA, we have a strong
partner with whom we are one step closer to a secure power supply through
clean energy.'

Karel Cornelissen, CEO of NOA, says: 'The Khauta project will be a
pioneering project for NOA as it will be the first large scale (>100MW)
solar facility entering the NOA aggregator portfolio. As NOA, together with
the support of our shareholder, African Infrastructure Investment Managers
('AIIM'), we aspire to make a meaningful contribution towards solving the
immediate energy supply deficit in South Africa'.

PNE has been active in South Africa since 2010. Currently, its wind and PV
projects under development add up to around 4 GW/GWp (as of the end of
2023). PNE is also active in two South African green hydrogen projects.

About the NOA Group

Net zerO Africa ('NOA') NOA is an integrated energy company that provides
renewable energy to customers in the commercial and industrial sectors,
partnering with clients to meet their net zero ambitions, while saving on
energy costs. NOA develops, constructs and operates large scale wind, solar
and energy storage plants and has developed a comprehensive and innovative
range of fully financed, grid wheeled solutions for its clients. The company
is also an aggregator, actively buying electrons from Independent Power
Producers across South Africa, enabling faster delivery of electrons to
clients.

About the PNE Group

The internationally operating, listed PNE Group is included in the SDAX as
well as the TecDAX. For more than 25 years, it has been one of the most
experienced project developers in the field of onshore and offshore wind
farms. The focus is on the development of wind power and photovoltaic
projects worldwide as well as on electricity generation with its own wind
farms. Its portfolio covers all project planning phases, from site
investigation and the implementation of the approval procedures, through
financing and construction, to operation and repowering. As a clean energy
solutions provider, the PNE Group also offers services for the entire life
cycle of wind farms and photovoltaic plants. The PNE Group is a sought-after
partner to industry for solutions for the refinement of electricity via
power-to-X technologies.

Contact:

PNE AG
Alexander Lennemann
Head of Corporate Communications
Tel: +49 47 21 - 7 18 - 453
E-mail: alexander.lennemann@pne-ag.com

PNE AG
Head of Investor Relations
Christopher Rodler
Tel: +49 40 - 879 33 114
Fax: +49 47 21 - 7 18 - 373
E-mail: Christopher.Rodler@pne-ag.com


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10.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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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:         info@pne-ag.com
   Internet:       http://www.pne-ag.com
   ISIN:           DE000A0JBPG2, DE000A2LQ3M9, , DE000A12UMG0,
   WKN:            A0JBPG, A2LQ3M, , A12UMG,
   Indices:        SDAX, TecDAX
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1877481

End of News EQS News Service
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1877481 10.04.2024 CET/CEST