DGAP-News

PNE WIND AG sells offshore wind project 'Atlantis I'

DGAP-News: PNE WIND AG / Key word(s): Contract/Disposal
PNE WIND AG sells offshore wind project 'Atlantis I'

09.01.2017 / 15:30
The issuer is solely responsible for the content of this announcement.

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Press Release

PNE WIND AG sells offshore wind project "Atlantis I"

- Project sold to Swedish utility Vattenfall

- Further milestone payments agreed

- PNE WIND remains involved in project as service provider

Cuxhaven, January 9, 2017 - PNE achieved another important success in its
offshore wind division: The offshore project "Atlantis I", located in the
North Sea, was sold to Swedish utility Vattenfall. Vattenfall is one of the
most experienced companies for the realization and operation of offshore
wind projects in Europe. Project "Altantis I" will be handed over to
Vattenfall upon closing of the sale and purchase agreement, which is still
subject to various closing conditions, for a purchase price in a lower
double digit million Euro amount. PNE will also participate in the further
value-add of the project achieved by Vattenfall through milestone payments,
and will remain involved in the project "Atlantis I" as service provider.

"With the sale of this project, the team led by Thorsten Fastenau, head of
our offshore wind division, demonstrated once again the excellent quality
of our development work in offshore wind projects", says Markus Lesser, CEO
of PNE WIND AG. And adds: "This project was prepared by us so that it is
eligible to participate in the first ever tender in Germany for offshore
wind projects this year. This was instrumental in getting the deal done."

PNE WIND acquired the project in 2013 and has continuously developed it
ever since. In doing so, the project parameters could be upgraded so that
now 73 multi megawatt class wind-turbines can be installed. The project is
located in the North Sea in the German Exclusive Ecomomic Zone, appr. 84
kilometers off the island of Borkum in north-westerly direction

As in previous divestitures of the offshore wind projects "Borkum
Riffgrund" and "Gode Wind", PNE WIND will remain involved in the further
development of project "Atlantis I" as long-term service provider,
contributing its outstanding expertise.

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 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 wind farms have been handed over,
the PNE WIND Group also offers technical and commercial operation
management services, including regular maintenance, for the wind farms.
Offshore wind farms are developed up to the point where they are
construction ready and our services cover the projects till operations
begin. Alongside its business activities in its established domestic
market, 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                                PNE WIND AG
Rainer Heinsohn                            Scott McCollister
Head of communication                      Head of investor relations
Tel:  [phone] - 7 18 - 453            Tel:  [phone] - 7 18 - 454
Fax: [phone] - 7 18 - 373             Fax: [phone] - 7 18 - 373
Rainer.Heinsohn(at)pnewind.com             Scott.McCollister(at)pnewind.com

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09.01.2017 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: 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, DE000A1R0741, , DE000A12UMG0,
WKN: A0JBPG, A1R074, , A12UMG,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange



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534997 09.01.2017