EANS-News: PNE WIND received a further partial payment amounting to EUR 25
million from the sale of the "Gode Wind" projects
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Company Information
Cuxhaven (euro adhoc) - 31st January 2013 - The wind farm project developer, PNE
WIND AG, has received a further milestone payment amounting to EUR 25 million
from the sale of the offshore wind farm projects, "Gode Wind" I to III. The
prerequisite for this payment was the creation and handover of a foundation
ground expertise for the Danish energy corporation, DONG Energy as purchaser of
the offshore projects. This has already been posted to the balance sheet in the
3rd quarter of 2012 by PNE WIND AG was reviewed by DONG Energy and now paid.
At the conclusion of the purchase agreement in August 2012 PNE WIND AG had
already received an immediate payment amounting to about EUR 57 million for the
shares and the project development costs incurred in advance. After the partial
payment already made, a further approx. EUR 75 million are to be expected which
will become due upon reaching specified project stages. These include mainly the
investment decisions (FID) taken by DONG Energy for the "Gode Wind I and II"
projects.
Company profile
With its headquarters in Cuxhaven, PNE WIND AG plans and realises wind farm
projects on land (onshore) and on the high seas (offshore). In doing so, its
core competence lies in the development, project planning, and financing of wind
farms and in their operation and sales respectively with the provision of
subsequent service. To date, the company has constructed 98 wind farms with 568
wind energy plants and a total nominal output of 814 megawatts. In Germany
(onshore), wind farm projects with over 1,100 MW of nominal output are currently
being developed.
In addition to its business activities in the established German home market,
PNE WIND AG is increasingly expanding into dynamic growth markets and is already
represented in joint ventures and by subsidiary companies in South East Europe,
Great Britain, USA and Canada. In these countries wind farm projects with a
nominal output of up to 2,000 MW are being developed and are to be completed in
the medium term.
In addition, PNE WIND AG is developing offshore wind farm projects, of which
four major projects in German waters have already been approved. An entry into
promising foreign markets is also being examined with regard to the offshore
sector.
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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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: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English