EANS-Adhoc: PNE WIND AG sells shares in offshore projects "Borkum Riffgrund" I and II to DONG Energy

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Contracts

16.12.2009

Cuxhaven, December 16, 2009 - The wind farm developer PNE WIND AG
(ISIN DE000A0JBPG2) sells its shares in the offshore wind farm
projects "Borkum Riffgrund" I and II to the Danish utility group DONG
Energy. Until now both companies held shares of 50 percent each in
these projects. PNE WIND AG shall receive the purchase price in
partial amounts as milestone payments when reaching determined steps
in the project. PNE WIND AG immediately shall receive an initial
payment of about 11.3 million Euros including reimbursement of
advance payments already made and loans. As a whole the remaining
payment of previously agreed purchase price of ca. 56 million Euros
is brought forward and paid with a discount.

Due to this transaction PNE WIND AG´s EBIT will increase from 5 to 7
million Euros predicted so far to an approximate estimated 13 to 15
million Euros.

The project "Borkum Riffgrund I" with up to 77 wind energy systems
and 277 MW total nominal output has already been approved. The
approval procedure for "Borkum Riffgrund II" with up to 96 wind
energy plants is under way.

It is agreed with DONG Energy that PNE WIND AG will continue
contributing to the development of such two offshore wind farm
projects in the North Sea, acting as a service provider for DONG
Energy.

End of the ad hoc announcement

end of ad-hoc-announcement ==========================================
====================================== Explanatory text

In its offshore department PNE WIND AG currently is working on eight
offshore projects in total. Three of those projects located in the
North Sea already have been approved.

The offshore wind farm projects “Borkum Riffgrund I” (approval
obtained) and “Borkum Riffgrund II” (currently in the approval
process) are among the most advanced. For these projects it was
intended that the shares of PNE WIND AG in the project companies
would be reduced at the start of project financing, increasing the
project partner’s shares accordingly.

PNE WIND AG now is selling its shares in the project companies
earlier than originally intended and accordingly will receive
payments earlier as well. At the same time PNE WIND AG will continue
participating in the future development of these projects as a
service provider and will benefit from them.

PNE WIND AG will intensely continue developing the other offshore
wind farm projects.

end of announcement euro adhoc
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ots Originaltext: PNE Wind AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

PNE WIND AG

Public Relations

Rainer Heinsohn

Tel: +49(0) 47 21 - 7 18 - 4 53

Fax: +49(0) 47 21 - 7 18 - 3 73

E-mail: info@pnewind.com

Investor Relations

cometis AG

Ulrich Wiehle / Dirk Stauer

Tel: +49(0)611 - 205855-11

Fax: +49(0)611 - 205855-66

E-mail: wiehle@cometis.de

Branche: Alternative energy
ISIN: DE000A0JBPG2
WKN: A0JBPG
Index: CDAX, Prime All Share, Technology All Share
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