DGAP-Adhoc

PNE WIND AG: Planning permission for Sallachy project in the UK has been denied

PNE WIND AG / Key word(s): Change in Forecast

17.11.2015 17:44

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Cuxhaven, November 17, 2015 - PNE WIND AG was informed today that planning
permission was not granted by the Scottish Ministers for the Sallachy wind
farm project (66MW) developed by WKN AG. This outcome is contrary to
previous expectations. The grounds for refusal are currently being analyzed
with the main reason for the refusal being based on visual impacts to the
landscape. An objection to the refusal is being currently reviewed. For
fiscal 2015, the Sallachy project with a contribution to earnings (EBIT) of
approx. euro 25 million was an essential component of the 2015 consolidated
EBIT guidance which was forecasted to be in the range of euro 30 to 40
million by year end. The Company previously expected at the group level a
cumulative EBIT of euro 110 to 130 million for the fiscal years 2014 to
2016, and saw the prospect of raising the guidance under certain
conditions.

The Company is currently reviewing the impact of the non-approval of the
Sallachy project on these forecasts. At this time, the company sees
lowering the 2015 EBIT guidance of euro 30 to 40 million by approx. euro 25
million to euro 5 to 15 million. The figures may prove to be more positive
with the early implementation of onshore projects at home and abroad.


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 roughly 380 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. In addition, through its YieldCo strategy, the
group of companies offers investors the possibility of investing directly
in commissioned and profitable 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
huge growth potential of the global wind energy market and it is expanding
into dynamic growth markets.


Contact:

PNE WIND AG
Rainer Heinsohn
Head of Corporate Communication
Tel: [phone] - 7 18 - 453
Fax: [phone] - 7 18 - 373
E-mail: [e-mail]


PNE WIND AG
Investor Relations
Scott McCollister
Tel: [phone] - 7 18 - 454
Fax: [phone] - 7 18 - 373
E-mail: [e-mail]


17.11.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: PNE WIND AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: [e-mail]
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1R0741, , DE000A12UMG0
WKN: A0JBPG, A0B9VG, , A1R074, , A12UMG
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart

End of Announcement DGAP News-Service

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