PNE WIND AG

EANS-News: PNE WIND AG profits from the approval granted for the offshore wind farm project, "Borkum Riffgrund II"

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Company Information


Cuxhaven (euro adhoc) - 3rd January 2012 - On 30th December 2011, the Danish
company, DONG Energy A/S, received the approval for the offshore wind park
project, "Borkum Riffgrund II" from the Bundesamt für Seeschifffahrt und
Hydrographie (BSH) (German Federal Maritime and Hydrographic Agency) in Hamburg.
PNE WIND AG was also involved from the very outset in the development of this
North Sea project, in which up to 97 wind energy systems can be constructed.
Initially, PNE WIND AG developed the project autonomously and later continued
its development jointly with DONG Energy. After "Borkum Riffgrund II" was sold
to DONG Energy at the end of 2009, PNE WIND AG remained involved as a service
provider and also profits financially.

"Together with DONG Energy we are very happy about the approval. After all, this
is the fourth offshore wind farm project to be approved, in which we have
participated" says Thorsten Fastenau, Head of PNE WIND AGs offshore division.
These include the "Borkum Riffgrund I" project, which was also sold to DONG
Energy with approval having been gained even before sale. DONG Energy is one of
the leading companies in the offshore wind energy sector. 

At that time, the sale transaction included an agreement on milestone payments
to PNE WIND AG for reaching specific steps in the development of the projects.
One of these milestones is the approval now granted. Thus, PNE WIND AG will now
receive a further milestone payment in the medium single-digit million range.

Martin Billhardt, Chief Executive Officer of PNE WIND AG: "The four approvals
which we have gained for offshore wind farm projects ourselves and in
co-operation with competent partners such as DONG Energy illustrate the high
level of professionalism with which these complex projects are carried out. In
this respect we are also very well placed for the future."


Company profile

PNE WIND AG, which is headquartered in Cuxhaven, plans and implements wind farm
projects on land (onshore) and at high sea (offshore). Core competencies are in
the development, planning, implementation and financing of wind farms, as well
as their operation and sales with associated service. So far, the company has
installed 97 wind farms with 563 wind power plants and a total capacity of 804
MW.

Besides business activities in the established German domestic market, PNE WIND
AG is increasingly expanding into dynamic growth markets and is already
represented through joint ventures and subsidiaries in Hungary, Bulgaria,
Romania, Turkey, United Kingdom, USA and Canada. In these countries, wind farm
projects with a capacity of up to 3,725 MW are currently being implemented for
the medium term. In Germany (onshore) wind farm projects with a nominal capacity
of more than 1,100 MW are currently in progress.

Furthermore, PNE Wind AG develops offshore wind farm projects, of which four
major projects in German waters have already been approved. Entry into promising
foreign markets will also be examined for the offshore area.


Further inquiry note:
PNE WIND AG
Presse und Öffentlichkeitsarbeit
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 / Janis Fischer
Tel: +49(0)611 - 205855-64
Fax: +49(0)611 - 205855-66 
E-mail: fischer@cometis.de

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
WWW:      http://www.pnewind.com
sector:      Alternative energy
ISIN:        DE000A0JBPG2, DE000A0B9VG7 DE000A0Z1MR2 DE000A1EMCW3
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
             Hamburg, Stuttgart, Düsseldorf, Hannover, München 
language:   English
 



Weitere Meldungen: PNE WIND AG

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