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Watson Farley & Williams (WFW) has advised PNE Wind (PNE) on the sale of its remaining 20% stake in a 142MW wind farm portfolio to Allianz Renewable Energy Fund II (AREF II), an investment fund managed by Allianz Global Investors, for € 23 million.
PNE remains responsible for the technical, commercial and operational management of the wind farms in the portfolio. PNE sold the other 80% of the portfolio in question to AREF II in late 2016, on which transaction it was also advised by WFW.
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