EANS-News: PNE WIND AG receives milestone payment for the offshore project "Borkum Riffgrund I"

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Company Information/Offshore wind farm

Cuxhaven (euro adhoc) - 28th February 2011 - The Danish company DONG
Energy A/S has now officially advised PNE WIND AG, that it has
decided to construct and finance the offshore wind farm "Borkum
Riffgrund I" in the North Sea. PNE WIND AG had been developing the
offshore wind farm "Borkum Riffgrund I" since 2011 at first alone and
then in a joint venture with DONG Energy and had sold this project to
DONG Energy at the end of 2009 after receiving the approval of the
Bundesamt für Seeschifffahrt und Hydrographie (Federal Maritime an
Hydrographic Agency). However, PNE WIND AG is continuing to develop
this project as service provider on behalf of DONG Energy.

DONG Energy is amongst the leaders in the offshore energy sector. It
intends to begin with the construction of "Borkum Riffgrund I", its
first German wind farm, in 2013 investing about 1.25 billion EUR. 89
Siemens wind energy systems with a nominal output totalling about 320
megawatts will be constructed and are to be commissioned in 2014. In
addition, DONG Energy is also developing the offshore wind farm
"Borkum Riffgrund II" further, having also purchased it from PNE WIND
AG at the end of 2009.

At the time of sale, milestone payments for reaching additional
specified stages in the development of this project were agreed. One
of these milestones is the decision concerning the construction and
financing of the project. Thus, PNE WIND AG is receiving a further
milestone payment amounting to 6.4 million EUR.

Company profile

PNE WIND AG with its headquarters in Cuxhaven develops and implements
wind farm projects on land (onshore) and at high sea (offshore). Its
core competence is the development, planning, implementation and
financing of wind farms and their operation or sale including
subsequent service. So far, the company has set up 97 wind farms with
563 wind energy systems and a total nominal output of 804 MW.

Alongside its business activities in the established German home
market, PNE WIND AG is also increasingly investing in dynamic growth
markets and has subsidiaries and representations via joint ventures
in Hungary, Bulgaria, Romania, Turkey, the UK, USA and Canada. Wind
farm projects with a nominal output of about 3,450 MW are currently
being processed in these countries and are to be implemented in the
medium term. In Germany (onshore) currently wind farm projects with a
nominal output of more than 800 MW are being processed.

Furthermore, PNE WIND AG develops offshore wind farm projects, three
of which have already been approved in German waters. Entering
promising foreign markets is also being examined for the offshore
area.

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
Press and 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 / Alexandra Edinger
Tel: +49(0)611 - 205855-16
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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