PNE WIND AG

EANS-News: PNE WIND USA sells its first wind farm

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Joint Ventures/Cooperation/Collaboration/International

Cuxhaven (euro adhoc) - 12. May 2011 - First success for the wind farm developer, PNE WIND AG, in the United States: With the sale of its first developed wind farm, PNE WIND USA, a subsidiary company of Cuxhaven´s PNE WIND AG, has successfully broken into the US wind market. The purchaser of the 20 MW wind farm in Belle Fourche, South Dakota, will be Black Hills Power, a utility subsidiary of the American energy company, Black Hills Corporation, dependent on a favourable ruling from the South Dakota Public Utilities Commission.

"The high quality of the project development work was a convincing argument for the customer. Considering the current difficulties for renewable energies in the US market, the sale of this construction ready wind farm is a great success," said Roland Stanze, the president of PNE WIND USA.

The project was developed by PNE WIND USA and its joint venture partner, Renewable Solutions. "Our wind farm will produce valuable economic development for the region while providing Black Hills Power with a cost effective source of power generation for the next 30 years," said project developer Mark Eilers, president of Renewable Solutions. It is the first wind farm in western South Dakota and advances Black Hills Power´s progress toward the state´s renewable objective that 10 percent of all electricity sold be obtained from renewable, recycled and conserved energy resources by 2015. Black Hills Power has filed a request for a declaratory ruling from the South Dakota Public Utilities Commission. If Black Hills Power receives a favourable ruling, all remaining permits will be obtained, and the wind project will be constructed by Black Hills Power in Butte County, north of Belle Fourche, with commercial operation expected before Dec. 31, 2012.

"As a community partner since 1883, Black Hills Power is committed to providing our service areas with the power needed to grow and develop at reasonable rates. This project offers a cost effective way to diversify our generation resources by adding wind energy that will support good public policy and the economic development of the Black Hills region," said Chuck Loomis, Vice President of Electric Operations for Black Hills Power.

"We are proud to support the people of western South Dakota in the development of this wind power project. Working with the extremely talented people from Black Hills Power has helped us to see this project through," said Kelly Lloyd, general manager for PNE WIND USA. Martin Billhardt, CEO of PNE WIND AG adds: "The United States and Canada are very attractive markets for us. Currently, we are developing about 30 additional projects in North America and have already secured 33,428 acres of land which enables us to continue our project pipeline expansion in this region."

Company profiles

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 3,725 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 1.150 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.

PNE WIND USA PNE WIND USA, Inc. is a company based in Chicago which develops and constructs wind power projects in North America. As part of the German PNE WIND AG group its core competencies lie in developing, planning, financing and installing wind power projects. Since its foundation in 1995 PNE WIND AG group has developed 97 wind farms with a total output of 804 MW. PNE WIND AG operates a select number of wind farms. Alongside its established business in Germany, PNE WIND AG is expanding into dynamic growth markets with onshore and offshore wind power projects.

Renewable Solutions, LLC Renewable Solutions, LLC is a Minneapolis based company engaged in the development of renewable energy projects across the upper midwest.

Black Hills Power Black Hills Power is the legacy utility business of Black Hills Corp. (NYSE: BKH) and has been delivering energy for more than 125 years. The electric utility serves 66,900 customers in 25 communities in western South Dakota, northeastern Wyoming and southeastern Montana.

Black Hills Corporation Black Hills Corp. — a diversified energy company with a tradition of exemplary service and a vision to be the energy partner of choice — is based in Rapid City, S.D., with corporate offices in Denver and Omaha, Neb. The company serves 763,300 natural gas and electric utility customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company´s non-regulated businesses generate wholesale electricity, produce natural gas, oil and coal, and market energy. Black Hills employees partner to produce results that improve life with energy. More information is available at www.blackhillscorp.com.

end of announcement                               euro adhoc
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company:     PNE WIND AG
          Peter-Henlein-Str. 2-4
          D-27472 Cuxhaven
phone:       +49(0)4721 718 06
FAX:         +49(0)4721 718 373
mail:     info@pnewind.com
WWW:      http://www.pnewind.com
sector:      Alternative energy
ISIN:        DE000A0JBPG2, DE000A0B9VG7 DE000A0Z1MR2 DE000A1EMCW3 DE000A1KRJ27
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
          Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English 

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: edinger@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



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