EQS-News: PNE’s 240 MW Khauta South photovoltaic project in South Africa reaches Final Project Development Milestone

Corporate News

 PNE’s 240 MW Khauta South photovoltaic project in South Africa reaches Final Project Development Milestone

• Milestone based on Financial Close between NOA and Standard Bank
• Major step for PNE’s activities in South Africa

 Cuxhaven, 18 June 2025 – PNE Group is once again internationally successful. At the beginning of June 2025, Standard Bank confirmed financial close on the 240MW Khauta South PV site. In addition, financial close for the 110MW Khauta West PV site is expected by the end of July 2025. Financial close marks the final payment milestone in the sales and development services agreements, and thus the completion of the project for WKN Windcurrent (PNE Group’s South African Development team). Early construction has already begun and is expected to be completed in early 2027.

In early 2024, PNE AG closed the sale and development services agreement for two photovoltaic (PV) projects (Khauta South and Khauta West), with a total output of 350 MW, to the South African energy company NOA Group Ltd (NOA). Since then, WKN Windcurrent and NOA have worked together to secure grid capacity for both sites, and to complete the remaining tasks needed reach financial close. 

“Financial Close on the Khauta South Solar PV project is a major achievement, and the PNE-Group is proud to have played a key role in its early-stage development”, Heiko Wuttke, CEO of PNE says. “We worked seamlessly with NOA’s development team to accomplish this major milestone. This milestone demonstrates once again that PNE is a reliable project developer and partner even after the sale of a project.”

“This deal is testament to the power of partnership and the shared commitment between NOA and WKN to accelerate the build out of large scale renewable energy in South Africa. We’re excited about the future of the Khauta project and its contribution to a cleaner, more resilient energy sector in South Africa”, Karel Cornelissen, CEO of NOA, says.

PNE has been active in South Africa since 2010. Currently, its wind and PV projects under development add up to around 5 GW (as of the end of 2024). PNE is also active in two South African green hydrogen projects.

About the PNE Group

The internationally operating PNE Group is listed on the SDAX as well as the TecDAX. For more than 30 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 energy and photovoltaic projects worldwide as well as on power generation with its own wind farms. Its portfolio covers all project planning phases, from site investigation, approval procedures and financing to construction, 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 used in 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@pnegroup.com

PNE AG
Head of Investor Relations
Christopher Rodler
Tel: +49 40 879 33 - 114
E-mail: christopher.rodler@pnegroup.com