euro adhoc: Plambeck Neue Energien AG
Joint Ventures/Cooperation/Collaboration / Plambeck Neue Energien AG establishes subsidiary to develop wind energy market in the USA

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Company Information


Cuxhaven, 28. October 2008 - The wind farm developer Plambeck Neue Energie AG (ISIN: DE000A0JBPG2) today established the 100% subsidiary Plambeck New Energy USA, Inc. Plambeck plans with the company situated in New York City to develop the attractive USA wind energy market. The goal is to acquire wind farm projects with a capacity up to 2,500 MW in the USA medium-term together with joint venture partners. With that Plambeck Neue Energien AG creates a decisive precedent for further promotion of company growth through onshore projects in strong growth foreign markets.

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Plambeck Neue Energien AG sees significant opportunity for growth for the American wind energy market both medium- and long-term, as the development and construction of wind farms is being supported more and more by the USA. Industry experts anticipate for the American market a definite two-figure growth rate until the year 2012, so that the installed output will triple to more than 57,000 MW. According to this, the USA will develop into the largest market for wind energy worldwide in the future. The states pioneering this in particular are Florida, Texas and California. The recent prolongastion of Production Tax Credits (PTC) gives dependability to the wind energy sector.

The strategy of international expansion is continued with market entry into the USA. At first it is essential to agree joint ventures for greenfield development with local partners.

Plambeck Neue Energien AG is already represented in joint ventures in Hungary, Bulgaria, Turkey, Great Britain and Ireland. At present in these countries, wind farm projects are being worked on with a capacity of up to 1,300 MW, these should be put into practice in the medium term. In Germany (onshore), at this time wind farm projects are being worked on with more than 400 MW, from these 114 MW are already under construction.

Furthermore, Plambeck Neue Energien AG is developing offshore wind farm projects, of which two large projects have already been approved in German waters. The entry into foreign markets with good prospects is also being checked for the offshore section.

Plambeck Neue Energien AG situated in Cuxhaven plans and actualises wind farm projects on land (onshore) as well as at sea (offshore). Until now 84 wind farms with 479 wind energy units and a total capacity of 651 MW have been installed. In the first half of the financial year 2008 the company reached a total output of 66.8 mill Euros as well as a result before interest and tax of 25.9 million Euros.

end of announcement                               euro adhoc

Further inquiry note:

Rainer Heinsohn
Plambeck Neue Energien AG / Öffentlichkeitsarbeit
Tel.: +49(0)4721-718-453

Branche: Alternative energy
Index: CDAX, Prime All Share, Technologie All Share
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