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News Details

Corporate | 9 January 2017 15:30

PNE WIND AG sells offshore wind project ‘Atlantis I’

DGAP-News: PNE WIND AG / Key word(s): Contract/Disposal

09.01.2017 / 15:30

The issuer is solely responsible for the content of this announcement.

Press Release

PNE WIND AG sells offshore wind project “Atlantis I”

– Project sold to Swedish utility Vattenfall

– Further milestone payments agreed

– PNE WIND remains involved in project as service provider

Cuxhaven, January 9, 2017 – PNE achieved another important success in its offshore wind division: The offshore project “Atlantis I”, located in the North Sea, was sold to Swedish utility Vattenfall. Vattenfall is one of the most experienced companies for the realization and operation of offshore wind projects in Europe. Project “Altantis I” will be handed over to Vattenfall upon closing of the sale and purchase agreement, which is still subject to various closing conditions, for a purchase price in a lower double digit million Euro amount. PNE will also participate in the further value-add of the project achieved by Vattenfall through milestone payments, and will remain involved in the project “Atlantis I” as service provider.

“With the sale of this project, the team led by Thorsten Fastenau, head of our offshore wind division, demonstrated once again the excellent quality of our development work in offshore wind projects”, says Markus Lesser, CEO of PNE WIND AG. And adds: “This project was prepared by us so that it is eligible to participate in the first ever tender in Germany for offshore wind projects this year. This was instrumental in getting the deal done.”

PNE WIND acquired the project in 2013 and has continuously developed it ever since. In doing so, the project parameters could be upgraded so that now 73 multi megawatt class wind-turbines can be installed. The project is located in the North Sea in the German Exclusive Ecomomic Zone, appr. 84 kilometers off the island of Borkum in north-westerly direction

As in previous divestitures of the offshore wind projects “Borkum Riffgrund” and “Gode Wind”, PNE WIND will remain involved in the further development of project “Atlantis I” as long-term service provider, contributing its outstanding expertise.

About the PNE WIND Group

The PNE WIND Group, with its brands PNE WIND and WKN, is one of the leading German wind farm developers. With its 360 employees, the PNE WIND Group has been offering services covering the entire added value chain ranging from the development, planning, realisation, financing, operation, marketing and repowering of wind farms in Germany and abroad from a single source for more than 25 years. Once the completed wind farms have been handed over, the PNE WIND Group also offers technical and commercial operation management services, including regular maintenance, for the wind farms. Offshore wind farms are developed up to the point where they are construction ready and our services cover the projects till operations begin. Alongside its business activities in its established domestic market, the PNE WIND Group is present at the international level in order to benefit from the huge growth potential of the global wind energy market and it is expanding into dynamic growth markets.

Contact


PNE WIND AG Rainer Heinsohn Head of communication Tel: +49(0) 47 21 – 7 18 – 453 Fax: +49(0) 47 21 – 7 18 – 373 Rainer.Heinsohn(at)pnewind.com	PNE WIND AG Scott McCollister Head of investor relations Tel: +49(0) 47 21 – 7 18 – 454 Fax: +49(0) 47 21 – 7 18 – 373 Scott.McCollister(at)pnewind.com

09.01.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	PNE WIND AG
	Peter-Henlein-Straße 2-4
	27472 Cuxhaven
	Germany
Phone:	04721 / 718 – 06
Fax:	04721 / 718 – 200
E-mail:	[email protected]
Internet:	http://www.pnewind.com
ISIN:	DE000A0JBPG2, DE000A1R0741, , DE000A12UMG0,
WKN:	A0JBPG, A1R074, , A12UMG,
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange