PNE WIND AG

EANS-Adhoc: PNE WIND AG completes the largest business transaction in the firm's history: three offshore wind projects sold to DONG Energy for euro 157 million

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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Company Information/Sales of projects

14.08.2012

Cuxhaven, 14. August 2012 - The wind farm project developer, PNE WIND AG (ISIN:
DE000A0JBPG2), sold its offshore wind parks "Gode Wind" I, II and III to the
Danish energy company DONG Energy. The projects "Gode Wind" I and II are now
100% owned by DONG Energy.  For the projects inclusive development costs, PNE
WIND AG has already received an upfront payment of euro 57 million.  With the
successful completion of predetermined project development steps, approximately
euro 100 million in additional milestone payments are expected to become due
till 2015.  Substantial milestones include the final investment decision for the
"Gode Wind" I and II projects. The "Gode Wind III" project rights will be
transferred to the buyer when the permit from the German Federal Maritime and
Hydrographic Agency (BSH) is issued. In addition to the above mentioned items,
PNE WIND AG will as part of the transaction support the projects as a service
provider to DONG Energy for the next five years. The service contract has a
value of up to euro 8.5 million.

All three of the "Gode Wind" projects are located 38 to 40 kilometres north of
the Norderney Island in the North Sea. The "Gode Wind" I and II projects have
both been issued building permits from the BSH and brought to the ready-to-build
point of development.  Furthermore, TenneT has issued an unconditional grid
connection guarantee.  The "Gode Wind III" project is in an earlier stage of
development and current efforts are targeted at obtaining the BSH building
permit as quickly as possible. 

With the sale of these three projects, PNE WIND AG reported the largest business
transaction in the firm's history.  PNE WIND AG reconfirms its cumulative EBIT
guidance from euro 60 to 72 million for the years 2011 to 2013.


Further inquiry note:
PNE WIND AG
Leiter Unternehmenskommunikation
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
Scott McCollister
Tel:  +49(0) 47 21 - 7 18 - 4 54
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: scott.mccollister@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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issuer:      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: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
             Stuttgart, regulated dealing/prime standard: Frankfurt 
language:   English
 



Weitere Meldungen: PNE WIND AG

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