EANS-News: PNE WIND received a further partial payment amounting to EUR 25 million from the sale of the "Gode Wind" projects
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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
Original-Content von: PNE WIND AG, übermittelt durch news aktuell