The publicly listed wind-park developer PNE Wind has developed a new strategy for expansion, the company’s chief executive, Markus Lesser, told Handelsblatt.
PNE, based in Lower Saxony, has up until now developed and sold wind parks in 13 countries with a primary focus on Europe and the United States. The company now plans to keep and operate more of its own wind parks, and also invest more in Asia and Latin America.
“Electricity generation will become the second leg of our business, next to project development,” Mr. Lesser said in an exclusive interview.
PNE also wants to partner with two or three major wind-turbine manufacturers to increase its leverage in wind park auctions around the world in a bid to conquer new markets.
“We are currently in negotiations with some manufacturers that we would like to cooperate with concretely,” Mr. Lesser said.
PNE Wind generates around €200 million ($210 million) in revenue annually. For 2016, the company expects €100 million in profit before tax and interest.
Unlike most of its competitors, PNE bundles wind parks and sells them in large portfolios instead of individually. Mr. Lesser believes this tactic generates a larger return.
“Our goal for the coming years is to build up large portfolios again,” Mr. Lesser said.