PNE WIND AG, DE000A0JBPG2

PNE WIND AG, DE000A0JBPG2

12.07.2017 - 09:43:34

PNE WIND AG: PNE WIND-subsidiary WKN sells Vivaldi Springtime project

PNE WIND-subsidiary WKN sells Vivaldi Springtime projectPattern Development acquires 80 megawatts Montana wind project     Cuxhaven,  July 12, 2017 - Windkraft Nord USA Inc., a subsidiary of WKN AG, a leading developer of wind energy farms based in Husum, Germany, itself owned by PNE WIND AG, sold the project rights of the US-wind project "Vivaldi Springtime" to Pattern Energy Group 2 LP ("Pattern Development").  Pattern Development is a leader in developing renewable energy and transmission assets. With a long history in wind energy, Pattern Development's highly-experienced team has developed, financed and placed into operation more than 4,000 MW of wind power projects.   The project rights of the 80 megawatts Vivaldi Springtime wind project located in the State of Montana have been sold to Pattern Development ready to build including power purchase agreement (PPA) and grid connection. Vivaldi Springtime is a "Qualified Facility" under U.S. law.   Start of construction is planned for 2017 with commercial operation day (COD) expected mid 2018. The Parties have also agreed on an option to expand the project.   Roland Stanze, WKN Chief Operating Officer (COO), states: "Vivaldi Springtime has been a long term development of the WKN Group. Over the last couple of years the project has been updated in regards to permitting and a power purchase agreement (PPA) has been obtained with extensive support of the local development team of PNE WIND USA."    Ron Flax-Davidson, Chairman & CEO of PNE WIND USA adds: "The closing of the transaction represents the successful culmination of several years of intensive wind development activities by PNE WIND and WKN in USA. We look forward to the completion of several other development wind projects in USA in the very near future."    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 approx. 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 plants have been handed over to operators, the PNE WIND Group also offers technical and commercial management services, including regular maintenance, for the wind farms. The offshore wind farms at sea are developed up to the point where they are ready to be constructed and services are provided up to the operation of the wind farms. Alongside its business activities in the established domestic market in Germany, the PNE WIND Group is present at the international level in order to benefit from the tremendous growth potential of the global wind energy market and it is expanding into dynamic growth markets.    WKN AG   WKN AG has planned, installed and operated turnkey wind energy farms in Germany since 1990. In addition, WKN AG is internationally represented by subsidiaries and joint-ventures in numerous European countries, South Africa and the US. Up to now, the company has initiated and realized projects with a total of about 1,300 megawatts capacity. The headquarters of the WKN-Group are located at the "House of Future Energies", an established centre of excellence for renewable energy sources in Husum/Germany. About 83 percent of WKN shares are owned by PNE WIND AG located in Cuxhaven/Germany while approx. 17 percent are held by private and institutional shareholders. Contact: PNE WIND AG Rainer Heinsohn Head of Corporate Communication Tel: +49(0) 47 21 - 7 18 - 453 Fax: +49(0) 47 21 - 7 18 - 373 E-mail: Rainer.Heinsohn@pnewind.com PNE WIND AG Head of Investor Relations Christopher Rodler Tel: +49(0) 47 21 - 7 18 - 454 Fax: +49(0) 47 21 - 7 18 - 373 E-mail: Christopher.Rodler@pnewind.com End of Media Release Issuer: PNE WIND AG Key word(s): Energy

12.07.2017 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: PNE WIND AG Peter-Henlein-Straße 2-4 27472 Cuxhaven

Germany Phone: 04721 / 718 - 06 Fax: 04721 / 718 - 200 E-mail: info@pnewind.com 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   End of News DGAP Media

591923  12.07.2017 

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