LOTUS ANNOUNCES ACQUISITION OF PNE USA, A LEADING RENEWABLE DEVELOPMENT PLATFORM

PNE USA will be renamed Allium Renewable Energy

GREENWICH, Conn., June 6, 2024 /PRNewswire/ -- Lotus Infrastructure Partners ("Lotus") announced today that it has completed the acquisition of PNE USA, an established developer of utility-scale wind, solar, and energy storage projects in North America from PNE AG, a renewable energy company based in Cuxhaven, Germany.

Led by a team of industry veterans, including CEO Karl Dahlstrom, PNE USA has successfully developed and monetized 877MW of wind and solar projects to date, and amassed a development pipeline of over 3GW of capacity.

PNE USA will operate as Allium Renewable Energy ("Allium") effective immediately.

"We are excited to partner with Karl and his team, who we've had the pleasure to work across the table from for many years," said Alex Daberko, a Managing Director at Lotus.  "Allium's development strategy aligns closely with our own, and we believe the team's unique project identification and commercialization capabilities will significantly expand Lotus's existing renewable development efforts."

"Our team has long admired the work of the Lotus management team," said Karl Dahlstrom, CEO of Allium.  "We know that our record of rapid growth in renewable power development will be supported and accelerated by Lotus' expertise in financing and operating energy assets. We are fortunate to have the opportunity to work with them."

About Lotus Infrastructure Partners
Lotus Infrastructure specializes in infrastructure investments along the entire value chain of energy and related sectors as well as other industries that benefit from sustainability and energy transition trends. Our main focus areas include renewable power generation, battery storage, renewable and low-carbon fuels, electric transmission, thermal power, and midstream and downstream assets. Our longstanding focus on renewable energy solutions provides us unique perspectives on recent developments in the energy transition space including sustainability, electrification and decarbonization of the global economy. Lotus Infrastructure has raised in excess of $3 billion of equity capital and has executed transactions totaling more than $8 billion in enterprise value, inclusive of approximately $2.8 billion in enterprise value related to the development and construction of renewable assets such as wind farms, solar farms, renewable natural gas (RNG) projects, energy storage and biomass power plants. The Lotus Infrastructure team brings extensive multi-functional expertise to all of its investments including development, construction, operations, acquisition and financing. For more information, please visit www.lotusinfrastructure.com.

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SOURCE Lotus Infrastructure Partners