Vestas supports PNE WIND AG in the “Gode Wind II” offshore wind-farm

The wind-farm developer PNE WIND AG came to an agreement with the Danish wind energy system manufacturer Vestas Offshore A/S concerning support in the implementation of the Gode Wind II offshore wind-farm.

This agreement entails the joint technical development for the set-up of 80 Vestas wind-energy systems in the "Gode Wind II" offshore project, which has already been approved. In this way, Vestas, the world’s largest manufacturer of wind-energy systems, and PNE WIND AG are continuing cooperation which has already been tried and tested and successful in wind-farms on land (onshore) for the offshore area.

In July 27, 2009, PNE WIND AG was given the approval for the "Gode Wind II" offshore wind-farm by the Federal Agency for Marine Shipping and Hydrography (BSH). Accordingly, this project in the North Sea about 33 kilometres to the north of Norderney can accommodate 80 wind-energy systems. PNE WIND AG currently has a total of 3 approvals for offshore wind-farm projects in the North Sea.

The members of the board of directors, Martin Billhardt and Bernd Paulsen are pleased about the important progress for the project implementation: "’Gode Wind II’ is directly next to the ‘Gode Wind I’ offshore wind-farm project, which has already been approved. Together, 160 offshore wind-energy systems can be set up in these projects according to the approvals in our possession. Vestas and PNE WIND AG are aiming for a start of implementation for "Gode Wind II" for 2011 / 2012."

The General Agents of PNE WIND AG, Thorsten Fastenau (Offshore) und Roland Stanze (Business Development), who are also Managing Directors of the PNE Gode Wind II GmbH project company, are sure that they achieved an essential milestone on the road to implementing this project by coming to this agreement.

Vestas currently has more than 374 wind-energy systems which it has set up and are in operation offshore all over the world and thus also has the greatest potential in experience in the set-up and operation of offshore projects. In addition, Vestas already has more than 100 further offshore systems under contract for implementation.

Wind-farm developer PNE Wind AG has received the approval for the Gode Wind II offshore wind-farm from Germany’s Federal Agency for Marine Shipping and Hydrography (BSH).

Gode Wind II will be located directly adjacent to the Gode Wind I offshore wind-farm project which has already been approved by BSH. Thanks to the approvals that have been recieved, the two projects combined will see 160 offshore wind turbines installed nominal capacity of up to 800 MW. The build-out for the Gode Wind II offshore wind-farm is planned for 2011-2012.

In May 2007, the application for approval of the project was presented to the Federal Agency for Marine Shipping and Hydrography (BSH). At the same time, the necessary studies on the ecology, the building foundation and on the safety of shipping in the area of the project were carried out. The results were presented to the approval authority in November 2008.

PNE WIND AG closed the first half year of 2009 with good operating results

Eight wind farms with 56 wind power turbines and a total nominal output of 120 MW installed. EBIT of € 8.0 million achieved. Consolidated net profit of € 4.9 million generated.
The wind farm project planning company PNE WIND AG further expanded its strong operating position in the international wind market in the first half of 2009. Eight wind farms with a total nominal output of about 120 MW were set up by the company. 56 wind power turbines were installed at these sites. The success of these projects is also reflected in the operating results of the first half of 2009.

In the first six months of the current fiscal year, PNE WIND AG generated a total aggregate output of approximately EUR 94.7 million, which corresponds to a plus of 41.7 % compared to EUR 66.8 million in the previous year. The operating profit (EBIT), the decisive figure for a wind farm project planning company, amounted to EUR 8.0 million (previous year: EUR 25.9 million). The fact that the EBIT of the previous year were influenced positively by an amount of EUR 26 million resulting from the sale of the shares in the Danish rotor blade manufacturer SSP Technology A/S is to be taken into account. Earnings before taxes totalled EUR 5.7 million in the first half of 2009 following EUR 24.4 million in the previous year. The consolidated profit before non-controlling interests amounted to about EUR 4.9 million as at June 30, 2009 (previous year: EUR 21.7 million). Accordingly, the earnings per share were EUR 0.12 (undiluted).

Martin Billhardt, the Chairman of PNE WIND AG’s Board of Management strikes a positive semi-annual balance: "We attained our operating objectives. Eight wind farms in six months – this figure emphasizes our strong position in the market. The revised Renewable Energies Law (EEG) gave us a further tail wind in this respect." In addition, the Chairman outlines the progress made in the electricity generation segment and in respect of international expansion: "PNE WIND AG will operate the Altenbruch II wind farm as the owner and strengthen significantly its position as an independent power producer. At the same time, we have taken the first step towards opening up a further, highly promising market of the future by establishing a joint venture company in Canada. However, we regret having to find a new partner for the Gode Wind I project, since the former partner, the Dutch group Econcern, went bankrupt in the second quarter."

The successful development of the first half of 2009 has been confirmed by the permit for the "Gode Wind II" offshore wind farm after the end of the reporting period. Now, PNE WIND AG is the only project planning company that has obtained a permit for three offshore wind farms in German waters. CEO Martin Billhardt regards this as proof of the unequalled expertise of the company: "Our project pipeline includes a total of seven offshore wind farms off the coast of Germany with a total volume of 2,416 MW, of which 1,077 MW have already been approved. We are thus is an excellent position to benefit in the long term from future increasing significance of offshore wind power."

PNE WIND enters Canadian wind energy market

PNE WIND AG is extending its international activities once more and taking its first steps into the Canadian wind energy market.

Its subsidiary, Plambeck New Energy USA Inc., has concluded a joint venture agreement for the future cooperation with the Canadian company BCP Renewable Energy Ltd. As joint venture partners, the companies will participate in requests for tender for wind-farms in the Canadian province of Saskatchewan. In Saskatchewan, wind-farm projects are tendered by the provincial electrical utility company, SaskPower. Such a request for tender is anticipated in the near future.

Company profile

PNE WIND AG with its headquarters in Cuxhaven plans and implements wind-farm projects on land (onshore) and also at high sea (offshore). In this context, its central competence is developing, projecting, implementing and financing wind-farms and their operation or sale with subsequent service. Up to now, the company has set up 92 wind-farms with 535 wind-energy systems and an overall nominal output of 770 MW.

Alongside the business activity on the established German home market, PNE WIND AG is also increasingly investing in dynamic growth markets and has representations via joint ventures in Hungary, Bulgaria, Turkey, Great Britain, Ireland, Rumania and Canada. Wind-farm projects with a nominal output of up to 1,400 MW are currently being processed in these countries and are to be implemented in the medium term. In addition, a subsidiary has been founded in the USA. In Germany (onshore), wind-farm projects with a nominal output of more than 300 MW are currently being processed.

Over and above this, 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.