DGAP-News: PNE WIND AG / Key word(s): Miscellaneous
PNE WIND AG negotiates the sale of the remaining 20 percent stake in the wind farm portfolio

23.11.2017 / 13:58
The issuer is solely responsible for the content of this announcement.


 

Corporate News

PNE WIND AG negotiates the sale of the remaining 20 percent stake in the wind farm portfolio

Cuxhaven, November 23, 2017 - PNE WIND AG is negotiating with Allianz Renewable Energy Fund II (AREF II) to sell the remaining 20 percent stake in PNE WIND Partners GmbH (formerly PNE WIND YieldCo Deutschland GmbH). The potential buyer is an investment company managed by Allianz Global Investors GmbH. PNE WIND AG and Allianz Global Investors GmbH have recently agreed on exclusivity in this respect.

The legally binding signing of the agreement on the proposed sale of the 20 percent stake is scheduled to take place in 2017, subject to the approval by the merger control authorities. Wind farm projects with a total capacity of 142.5 MW are bundled in PNE WIND Partners GmbH. Allianz Renewable Energy Fund II (AREF II) already acquired 80 percent of the shares in the company at the end of 2016.

This transaction also serves to finance the establishment of the new European portfolio with a capacity of up to 200 MW. The first wind farms with a total capacity of 43 MW will be commissioned by the end of 2017 as part of this portfolio. Further investments from the company's own funds are planned up to the complete or partial sale of the new portfolio in 2020. Until the date of sale, PNE WIND AG expects increasing proceeds from the sale of electricity from its own wind farms.


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 approx. 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 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 and services are provided up to the operation of the 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 tremendous growth potential of the global wind energy market and it is expanding into dynamic growth markets.

Contacts for enquiries


PNE WIND AG
Rainer Heinsohn
Head of Corporate Communications
Tel: +49(0) 4721 718 453
Fax: +49(0) 4721 718 373
Rainer.Heinsohn(at)pnewind.com

PNE WIND AG
Christopher Rodler
Head of Investor Relations
Tel: +49(0) 47 21 - 7 18 - 454
Fax: +49(0) 47 21 - 7 18 - 373
Christopher.Rodler(at)pnewind.com

 


23.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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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: info@pnewind.com
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

 
End of News DGAP News Service

632203  23.11.2017 

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