EANS-News: PNE WIND AG profits from the approval granted for the offshore wind farm project, "Borkum Riffgrund II"
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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
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