PNE WIND AG sells offshore project "Nautilus II" to Ventizz Capital Funds IV and agrees further cooperation

Cuxhaven, (PresseBox) - Wind farm developer PNE WIND AG (ISIN DE000A0JBPG2) has sold all rights to the offshore wind farm project "Nautilus II" to SSP Technology Holding ApS. The offshore project is being planned in the North Sea and is still in the planning and approval phase.

SSP Technology Holding ApS, a company of Ventizz Capital Funds IV, acquires all shares of the project company "PNE WIND Nautilus II GmbH". PNE WIND AG will further develop the offshore project as a service provider until approval is received and will participate in the success upon reaching defined progress in the project development. The project sale currently has no major impact on the operating profit (EBIT) of PNE WIND AG.

80 wind turbines with a nominal output of up to 7 MW per turbine are planned for the offshore wind farm project "Nautilus II". This results in a wind farm output of up to 560 MW. The project site is located in the North Sea within the exclusive economic zone of the Federal Republic of Germany about 180 kilometres north-west of Helgoland. The approval is expected for 2013.

PNE WIND AG

PNE WIND AG, which is headquartered in Cuxhaven, plans and implements wind farm projects on land (onshore) and at high sea (offshore). Core competencies are in the development, planning, implementation and financing of wind farms, as well as their operation and sales with associated service. So far, the company has installed 97 wind farms with 563 wind power plants and a total capacity of 804 MW.

Besides business activities in the established German domestic market, PNE WIND AG is increasingly expanding into dynamic growth markets and is already represented through joint ventures and subsidiaries in Hungary, Bulgaria, Romania, Turkey, United Kingdom, USA and Canada. In these countries, wind farm projects with a capacity of up to 3,725 MW are currently being implemented for the medium term. In Germany (onshore) wind farm projects with a nominal capacity of more than 1,100 MW are currently in progress.

Furthermore, PNE Wind AG develops offshore wind farm projects, of which three major projects in German waters have already been approved. Entry into promising foreign markets will also be examined for the offshore area.

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