2014: Entry into the YieldCo business

In 2014, PNE began expanding its business model to include a new sales channel by entering the so-called YieldCo business. Instead of just selling wind farm portfolios, the YieldCo model aims to bundle completed, high-yielding plants in a separate company and then list them on the stock exchange.. The aim was to deliver stable and attractive returns while reducing the risk. 

While YieldCos were already established in the USA and the UK, PNE was one of the pioneers of this model in Germany. It gave institutional investors the opportunity to invest directly in high-yield wind farms without having to bear the risks typically associated with project development. Diversification across several locations also increased the security of the investment. PNE WIND YieldCo Deutschland GmbH was established with a primary focus on German wind farms with a total nominal output of up to 150 megawatts. The plants were fully operational and generated a reliable supply of electricity. The secured feed-in tariff ensured predictable and sustainable yields.

In December 2016, 80 per cent of the portfolio was ultimately sold to the Allianz Renewable Energy Fund II for around 103 million euros.

The remaining 20 per cent of the portfolio was still owned by PNE WIND. In addition, the company took on the task of managing the wind farms on a long-term basis and thus remained operationally involved.