12.12.2016
PNE WIND AG DE000A0JBPG2
DGAP-News: PNE WIND AG: 80 percent stake in a 142 MW wind farm portfolio has been sold to a subsidiary of Allianz Global Investors
DGAP-News: PNE WIND AG / Key word(s): Disposal
PNE WIND AG: 80 percent stake in a 142 MW wind farm portfolio has been sold
to a subsidiary of Allianz Global Investors
12.12.2016 / 08:53
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Press release
PNE WIND AG: 80 percent stake in a 142 MW wind farm portfolio has been sold
to a subsidiary of Allianz Global Investors
- Largest wind farm sale in the company's history
- Liquid funds for strategic investments
- PNE WIND retains 20 percent of the portfolio and provides operational
management services
Cuxhaven, 12 December 2016 - PNE WIND signed this weekend a contract
representing the largest onshore wind farm sale in the company's history.
The 142 MW wind farm portfolio has a total enterprise value exceeding euro
330 million. 80 percent of the shares in the portfolio were sold to a
subsidiary of AREF II Renewables Investment Holding S.à r.l. Additionally
an option is in place for a further 10 MW wind farm.
The buyer is a subsidiary of the energy and infrastructure fund Allianz
Renewable Energy Fund II, which is managed by Allianz Global Investors GmbH
(AllianzGI). The remaining 20 percent of the wind farm portfolio will
continue to be held by the wind power specialist PNE WIND. In addition, PNE
WIND will benefit from long-term sustainable earnings amounting to a
double-digit million figure from the ongoing operation and operational
management of the wind farms. The closing of the contract and therefore the
payment of the purchase price is still subject to an ongoing antitrust
procedure. This procedure is expected to be closed by yearend. With the
closing of the contract this year, this sales transaction is a major step
towards attaining the earnings guidance of a consolidated EBIT up to euro
100 million for the financial year 2016.
Successful long-term development
PNE WIND has been investing in the construction of the wind farm portfolio
since 2014. The completed wind farms were successively bundled and were
held up to now as own operations. In the portfolio, two turbines with a
nominal output of 6 MW are still under construction. An additional wind
farm with approximately 10 MW is currently in the planning permission
procedure and will be integrated into the portfolio later. The wind farm
portfolio will generate sufficient environmentally friendly electricity to
cover the average annual demand of around 125,000 households.
Markus Lesser, CEO of PNE WIND AG: "We are delighted to have found a
reliable and long-term partner with AllianzGI, which values the quality of
our wind farms and our operational management services. We see the sale of
the wind farm portfolio to one of Germany's largest institutional investors
as evidence to the quality of our projects. PNE WIND, through its remaining
20 percent holding in the portfolio, will continue to benefit over the long
term from the operations and by providing services to the wind farms.
Liquid financial resources for further development
With the sale of the wind farm portfolio, the foundation for the future
development of PNE WIND AG has been strengthened. Markus Lesser: "Through
the portfolio sale, we will now have the financial resources to be able to
react flexibly and quickly to changes in the international markets and to
expand our strategic investments. We also intend to invest in further wind
farm projects. With our strong brands and proven on and offshore
development expertise, we are excellently positioned to benefit from the
growing global demand for wind power and associated services. The PNE WIND
Group remains on course for future developments."
Additional income from own operations and wind farm management services
Through holdings in operational wind farms and by expanding the service
business, PNE WIND is building upon its core business of wind farm project
development. PNE WIND remains the technical and commercial manager of the
wind farm portfolio and also operates the related transformer substations.
PNE WIND has shown that it is capable to regularly bring high-quality wind
farm projects of significant size to the market. In the last few years, the
sale of offshore projects to a Danish energy company and the sale of the
British project pipeline represented very successful transactions.
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 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 wind farms have been handed over,
the PNE WIND Group also offers technical and commercial operation
management services, including regular maintenance, for the wind farms.
Offshore wind farms are developed up to the point where they are
construction ready and our services cover the projects till operations
begin. Alongside its business activities in its established domestic
market, the PNE WIND Group is present at the international level in order
to benefit from the huge growth potential of the global wind energy market
and it is expanding into dynamic growth markets.
Contacts for inquiries
PNE WIND AG PNE WIND AG Rainer Heinsohn Scott McCollister Head of Corporate Communications Head of Investor Relations Tel.: +49(0) 47 21 - 7 18 - 453 Tel.: +49(0) 47 21 - 7 18 - 454 Fax: +49(0) 47 21 - 7 18 - 373 Fax: +49(0) 47 21 - 7 18 - 373 Rainer.Heinsohn(at)pnewind.com Scott.McCollister(at)pnewind.com--------------------------------------------------------------------------- 12.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: PNE WIND AG Peter-Henlein-Straße 2-4 27472 Cuxhaven Germany Phone: 04721 / 718 - 06 Fax: 04721 / 718 - 200 E-mail: [email protected] 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 --------------------------------------------------------------------------- 528677 12.12.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
PNE WIND AG ISIN: DE000A0JBPG2 können Sie bei EQS abrufen
Solar-/Windparks , A0JBPG , PNE3 , XETR:PNE3