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.”