German renewable energy developer PNE has sold its Panamanian business to the local managing director in a management buyout, completing its planned withdrawal from the Central American market, the company said.
The transaction includes a service entity as well as six wind and solar projects. PNE said the sale marks the final step in its exit strategy for Panama, following the divestment of one wind project and two solar projects in the third quarter of 2025.
“With this sale, we have now completed our exit from the Panamanian market as planned at the end of 2025,” said Heiko Wuttke, chief executive officer of PNE AG.
PNE said the decision reflects its broader strategy of regularly reviewing its international footprint and concentrating resources on markets with stronger profitability prospects.
“We regularly review our international activities and focus on profitable core markets,” Wuttke added.
The company continues to develop, build and operate renewable energy projects in selected regions as part of its long-term growth strategy.
