The PNE WIND Group made a strong operational start in 2015

• Well filled project pipeline and onshore and offshore projects completed
• Strong international demand for wind farms and participations by investors
• Further expansion of the YieldCo portfolio
• Forecast with positive outlook confirmed

Cuxhaven - The PNE WIND Group has made a very energetic start into the 2015 fiscal year and consistently expanded on the development of its wind farm projects. This development is however not yet fully reflected in the results of the first quarter owing to the long term development process of our wind farm projects.

In the first three months of 2015, the Group generated sales totalling euro 15.2 million (previous year: euro 32.9 million), an operating result (EBIT) of euro -6.0 million (previous year: euro -0.8 million) and diluted earnings per share of euro -0.12 (previous year: euro -0.09).

Martin Billhardt CEO of PNE WIND AG, “With our well filled onshore and offshore project pipeline, we have made a good start to a highly promising 2015. Our successes in Germany and abroad as well as the continuous expansion of our YieldCo portfolio underline the sustainable and positive orientation of the entire Group.”

As at March 31, 2015, onshore wind farms with a total nominal output of 95 MW were under construction in Germany at the PNE WIND Group. These are the “Chransdorf” (57.6 MW) and the “Waldfeucht/Selfkant” (12 MW) wind farms - which will be placed into the YieldCo portfolio – and the “Looft”, “Nentzelsrode” and “Siebenbäumen” wind farms.

The Group also made further progress abroad. In the United Kingdom, PNE WIND AG has been looking for a financially strong partner with whom it intends to quickly realise the projects which are in the development process. In the context of discussions, it became evident that investors are interested both in participating in the wind farm projects as well as acquiring shares in PNE WIND UK Ltd. “We are now analysing the offers of the financial partners / investors and will hold further talks on the sale of shares in PNE WIND UK Ltd. or participation in the projects”, comments Mr. Billhardt.

The subsidiary in the United Kingdom is processing a rapidly growing project pipeline with more than 1,100 MW of nominal capacity at present. Several of the projects have already been approved or are close to obtaining the necessary permits.

In the offshore segment, the “Borkum Riffgrund I” wind farm located to the north of the island of Borkum started to supply electricity to the German grid in March after the 78 wind power turbines were successively connected to the grid. PNE WIND started developing the offshore wind farm in the North Sea in 2001 alone and later in a joint venture with the Danish energy group DONG Energy. After the entire project was sold to DONG Energy, PNE WIND remained active as a service provider for the Danish energy group.

Through the initiation of a YieldCo business, the PNE WIND Group intends to be able to open up considerable additional potential. Furthermore, the project development pipeline is well filled and the higher implementation rate of our projects promises continuous returns. Mr. Billhardt: “We reconfirm our forecast of achieving a cumulative EBIT of euro 110 to 130 million for the 2014 to 2016 financial years and see the prospect of increasing our forecast upon the successful implementation of the YieldCo business.”


Cuxhaven, May 11, 2015


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PNE WIND AG.


Attention editorial offices: For further questions please contact

PNE WIND AG
Rainer Heinsohn
Head of Company Communication
Phone +49 (0) 4721-718-453
E-Mail: rainer.heinsohn@pnewind.com


PNE WIND AG
Peter-Henlein-Straße 2 - 4
D-27472 Cuxhaven

Internet: http://www.pnewind.com

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