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.