PNE WIND AG

EANS-News: PNE WIND AG is making considerable progress towards the grid connection of the "Gode Wind II" offshore wind farm

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Contracts/Offshore wind farm

Cuxhaven (euro adhoc) - 28th February 2011 - The wind farm developer, PNE WIND AG (ISIN: DE000A0JBPG2), has made considerable progress on the way to constructing the offshore wind farm "Gode Wind II": The documentation required for the binding agreement to the grid connection has been submitted to the transmission grid operator TenneT. This means that PNE WIND AG has fulfilled all four criteria in the German Federal Network Agency´s position paper on the maintenance of the unconditional grid connection agreement. This agreement is given by the responsible transmission grid operator, TenneT, specifying the grid connection date, when the current call for tender for the supply of the grid connection components has been completed. This progress in the project´s development has created the prerequisite for being able to begin the construction of the offshore wind farm "Gode Wind II" in 2012 as planned.

The following documents have now been presented for the construction of "Gode Wind II":

- Supply contract for 84 Vestas type V112 wind energy systems. - Preliminary contract for the supply of 84 monopile foundations by MT Højgaard A/S. - Preliminary contract for the supply of the internal wind farm cabling by Draka Norsk Kabel AS. - Preliminary contract for the supply of the wind farm´s transformer station by ALSTOM Grid GmbH.

PNE WIND AG had already fulfilled the first three criteria of the German Federal Network Agency´s position paper as early as September 2010. At that time, the approval, the construction schedule and evidence of the construction site subsoil analysis for all of the locations for the 84 offshore plants in the "Gode Wind II" wind farm were submitted. On this basis, TenneT gave its conditional grid connection agreement on 2nd November 2010 and commenced the call for tender process for the supply of the grid connection components.

Significant progress was also made with regard to the financing. Thus, after a round of presentations to renowned European banks, a number of written expressions of interest (Letters of Support) are available for financing the wind farm.

Company profile

PNE WIND AG with its headquarters in Cuxhaven develops and implements wind farm projects on land (onshore) and at high sea (offshore). Its core competence is the development, planning, implementation and financing of wind farms and their operation or sale including subsequent service. So far, the company has set up 97 wind farms with 563 wind energy systems and a total nominal output of 804 MW.

Alongside its business activities in the established German home market, PNE WIND AG is also increasingly investing in dynamic growth markets and has subsidiaries and representations via joint ventures in Hungary, Bulgaria, Romania, Turkey, the UK, USA and Canada. Wind farm projects with a nominal output of about 3,450 MW are currently being processed in these countries and are to be implemented in the medium term. In Germany (onshore) currently wind farm projects with a nominal output of more than 800 MW are being processed.

Furthermore, PNE WIND AG develops offshore wind farm projects, three of which have already been approved in German waters. Entering promising foreign markets is also being examined for the offshore area.

end of announcement                               euro adhoc
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Contact:

PNE WIND AG
Press and Public Relations
Rainer Heinsohn
Tel: +49(0) 47 21 - 7 18 - 4 53
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: info@pnewind.com

Investor Relations
cometis AG
Ulrich Wiehle / Alexandra Edinger
Tel: +49(0)611 - 205855-16
Fax: +49(0)611 - 205855-66
E-mail: wiehle@cometis.de

Branche: Alternative energy
ISIN: DE000A0JBPG2
WKN: A0JBPG
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade



Weitere Meldungen: PNE WIND AG

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