EANS-Adhoc: PNE WIND AG holds all "Gode Wind I" offshore project shares once more

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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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Company Information

10.02.2010

Cuxhaven, 10th February 2010 - Wind farm developer PNE WIND AG (ISIN
DE000A0JBPG2) once again has a 100 percent stake in the offshore wind
farm project "Gode Wind I". Up till now, PNE WIND AG had a 10 percent
holding in the project company for "Gode Wind I", PNE Gode Wind I
GmbH, after 90 percent of its shares in the company were sold to the
Dutch firm Econcern N.V. in 2007. In May 2009, Econcern N.V. went
into administration and so was not in the position to honour further
payment obligations arising from the sale of the shares in 2007 nor
to ensure further financing of the project. During negotiations with
the insolvency administrator from Econcern N.V. and the Royal Bank of
Scotland Plc, who are entitled to particular security interests of
the project company PNE Gode Wind I GmbH, a purchase could be
achieved by PNE WIND AG gaining exclusive shareholder rights once
again. In connection with the purchase and the release of securities,
PNE WIND AG is paying out a single-digit million euro contribution
which can increase by the same amount once again under certain
conditions.

The offshore wind farm "Gode Wind I" has already been approved by the
Bundesamt für Seeschifffahrt und Hydrographie (Federal Maritime and
Hydrographic Agency). In this project up to 80 offshore wind turbines
can be set up with a power output of up to 400 MW. PNE WIND AG will
now press ahead with the technical development of "Gode Wind I"
together with the already approved offshore wind farm project "Gode
Wind II", in which the company also has a 100 percent shareholding.

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

With the takeover of all shares in the offshore wind park project,
PNE WIND AG has become the sole owner of the already approved and
adjacent projects “Gode Wind I and II” on the North Sea. The planning
of both of these offshore wind park projects is particularly well
advanced as they have already passed the exacting approval procedure
of the Bundesamt für Seeschifffahrt und Hydrographie (Federal
Maritime and Hydrographic Agency). PNE WIND AG is working together
with wind turbine manufacturer Vestas for the technical development
of this project.

The projects are situated on the North Sea, around 38 kilometres
north of Juist Island. Following the plans by PNE WIND AG, both
offshore projects should quickly be developed for further building
work. Beginning of realisation is planned to commence in 2011/2012.

PNE WIND AG was advised in this deal by the investment bank Augusta &
Co, London, and the law firm Taylor Wessing, Berlin.

At present, PNE WIND AG is dealing with a total of eight offshore
projects, for two of which it is acting as a service provider in
project development. PNE WIND AG is proceeding with the development
of these projects intensively.

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

Presse- und Öffentlichkeitsarbeit

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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