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Energiekontor AG: Energiekontor sells English Gayton le Marsh wind farm - Proceeds are to be used to pay back loans

DGAP-News: Energiekontor AG / Key word(s): Disposal
Energiekontor AG: Energiekontor sells English Gayton le Marsh wind farm -
Proceeds are to be used to pay back loans

16.12.2016 / 12:06
The issuer is solely responsible for the content of this announcement.

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Bremen-based project developer takes important step towards 2016 full-year
target

Energiekontor sells English Gayton le Marsh wind farm - Proceeds are to be
used to pay back loans

Bremen, 16 December 2016. Energiekontor AG has sold the Gayton le Marsh
wind farm (16.4 MW) to a British investor, thus taking an important step
towards achieving the forecast annual target for 2016. The wind farm is
located about ten kilometres from the east coast of England in the county
of Lincolnshire. The site consists of eight wind turbines with 2.05 MW each
that were fully commissioned at the beginning of 2016. The proceeds from
the sale are to be used to prematurely repay existing loans for Group-owned
wind farms.

Peter Szabo, CEO of Energiekontor AG, remarks: "The sale of the previously
Group-owned Gayton le Marsh wind farm was a strategic decision in order to
accelerate the deleveraging of the Company wind farms and thus improve the
Group's equity ratio. Even though this will temporarily reduce the overall
capacity of Group-operated wind farms, management still adheres to its
objective to include a significant part of developed projects into the
Group's own portfolio and, hence, to expand the number of wind farms and
solar parks owned and managed by the Group. However, it is not the total
output in absolute terms, i.e. megawatts, that is decisive; the crucial
factor is the segment result (EBT) in the Power Generation in Group-owned
Wind Farms and the Operation Development, Innovation and Others segments.
Here, we are still striving to double EBT in the medium term compared to
the figure achieved in 2015."

With regard to the annual results he adds: "Moreover, the sale of Gayton le
Marsh contributes substantially to reaching our annual target for 2016. We
assume that the repowering projects that are in the final stages of
construction will also be completed by the end of December and that we will
thus reach our full-year target for 2016 as forecast."


About Energiekontor AG:

For the last 25 years, Energiekontor has stood for a sound approach to
business. Formed in Bremerhaven in 1990, the Company was one of the
pioneers in the industry and is now one of the leading German project
developers. The Company's core business covers the planning, construction
and operational management of wind farms in Germany and abroad, and was
expanded to include solar power in 2010. In addition, Energiekontor also
currently owns and operates 32 wind farms with a total rated power of
around 253 megawatts (MW).

In addition to its headquarters in Bremen, Energiekontor also maintains
offices in Bremerhaven, Hagen im Bremischen, Aachen, Bernau (near Berlin),
Dortmund and Neubrandenburg. The Company also has subsidiaries in England
(Leeds), Scotland (Glasgow), Portugal (Lisbon) and the Netherlands
(Nijmegen). Our track record speaks for itself: 102 wind farms completed
with around 580 turbines and a total rated power of just under 850 MW. This
corresponds to an investment volume of over EUR 1.3 billion.

The Company went public on 25 May 2000. Energiekontor AG (WKN 531350/ISIN
DE0005313506) is listed in the General Standard segment of the Frankfurt
Stock Exchange and the Energiekontor shares can be traded on all German
stock exchanges.


Contact:

Investor Relations/Press
Dr Stefan Eckhoff
Phone: [phone]
Email: [e-mail]


Energiekontor AG / Reuters: EKT / ISIN: DE0005313506


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16.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Energiekontor AG
Mary-Somerville-Straße 5
28359 Bremen
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.energiekontor.de
ISIN: DE0005313506
WKN: 531350
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich, Stuttgart, Tradegate Exchange



End of News DGAP News Service
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530681 16.12.2016