WKN sells German wind farm Suderbruch to Allianz

Further sales contract signed

Husum, (PresseBox) - WKN AG has sold the wind energy project Suderbruch to Allianz Renewable Energy Partners III LP, an Allianz Group fund which invests in renewable energy assets. The wind farm located in the Federal State of Niedersachen (Lower Saxony) has already been in operation for several weeks. In Suderbruch, eight Vestas V90 Gridstreamer wind turbines with a total installed capacity of 16 megawatts produce environmentally friendly power.

Following the first foreign WKN wind energy project in Francofonte (Sicily, Italy) at the end of 2005 and the contracts on several German wind projects, this is already the fifth joint transaction of the two companies. "We are delighted to have convinced Allianz once again of our experience and knowledge in the field of wind energy," said Udo Follrichs, Senior Vice President of WKN AG, on conclusion of the agreement. "The cooperation during the due diligence process was again very professional, smooth and targeted. Allianz has gone for a WKN quality product again."

For Allianz the investment is a further step in its commitment to long-term investment in renewable energy. Wind energy in particular has great potential for growth and is one of the weapons in the battle against climate change.

"We are pleased to add Suderbruch to our portfolio and to extend our co-operation with WKN", points out David Jones, CEO of Allianz Specialised Investments. "The German wind sector is important to us and we are keen to further expand our portfolio in Germany and other key European markets".

WKN Windkraft Nord AG

WKN AG has planned, installed and operated turnkey wind farms and solar power systems in Germany since 1990. In addition, WKN AG is also internationally represented by subsidiaries in numerous European countries, South Africa and the US. Up to now, the company has initiated and realized projects with a total of around 1,100 megawatts capacity.

The headquarters of the WKN-Group are located at the "House of Future Energies", an established center of excellence for renewable energy sources in Husum/Germany. 53.65 percent of WKN shares are privately owned by the company's founder Volker Friedrichsen. About 17 percent are held by diverse private and institutional shareholders while 29.33 percent are in the hands of Siemens Project Ventures. The Chairman of the WKN Supervisory Board is Dr Klaus Rave.

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