DGAP-News: PNE WIND AG / Key word(s): Miscellaneous
PNE WIND AG has founded the German and the UK Yieldco companies
19.12.2014 / 11:06
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PNE WIND has founded the German and the UK Yieldco companies
Cuxhaven / Edinburgh, 19 December 2014 - PNE WIND AG has now founded the
subsidiary companies PNE WIND Yieldco Deutschland GmbH (Cuxhaven) and the
PNE WIND Yieldco International Limited (Edinburgh, Scotland). With this
step, the strategic expansion of PNE WIND AG's business model to initiate a
Yieldco with 150 MW of German onshore wind farms is moving quickly forward.
In the next step, commissioned wind farms will be placed in the PNE WIND
Yieldco Deutschland GmbH before being acquired by the PNE WIND Yieldco
International Limited. PNE WIND AG plans to sell the subsidiaries wholly or
partly to investors by the end of 2016. Following the sale, PNE WIND AG
intends to remain committed to the wind farms.
One of the projects headed for the Yieldco, is the "Chransdorf" wind farm
in Brandenburg with a nominal capacity of 57.6 MW. The project is already
under construction. For additional projects, preparation activities are
already underway and construction is scheduled to begin shortly.
PNE WIND AG expects to benefit from its Yieldco strategy in multiple ways.
The Company anticipates that a commissioned wind farm portfolio could be
sold at better conditions than would be achieved if the wind parks were
sold on an individual basis. The rationale behind this is that investors
prefer portfolios with commissioned wind parks with proven operational
results. Furthermore, the level of risk associated with a portfolio of wind
farms is less than that of individual wind farms. PNE WIND AG plans on
generating additional revenue through the management of the Yieldco and by
providing O&M services for the wind farms in the portfolio. The formation
of the Yieldco will also provide an additional sales channel for further
projects developed by the PNE WIND Group. Finally, the temporarily owned
wind farms will also deliver steady returns that will benefit the Group
until the sale of the Yieldco.
Martin Billhardt, CEO of PNE WIND AG: "With the Yieldco, we want to
capitalise on new opportunities which will have very positive effects for
the PNE WIND Group. With the Limited company being founded, we have the
opportunity to take the Yieldco public in the UK, where several Yieldcos
are already successfully listed."
Company profile
PNE WIND AG
With its headquarters in Cuxhaven, PNE WIND AG plans and realises wind farm
projects on land (onshore) and on the high seas (offshore). In doing so,
its core competence lies in the development, project planning, realisation
and financing of wind farms and in their operation and sales respectively
with the provision of subsequent service. To date, the company has already
successfully developed wind farms with a total nominal output of over 2,100
MW.
In addition to its business activities in the established German home
market, PNE WIND AG is increasingly expanding into dynamic growth markets
and is already represented in joint ventures and by subsidiary companies in
14 countries in Europe, Africa and North America. In these countries, wind
farm projects with a nominal output of over 5,000 MW are currently being
developed and are to be completed in the medium term.
PNE WIND AG is developing offshore wind farm projects, of which four major
projects in German waters have already been approved. The offshore
department area is developing own projects or projects for customers with a
nominal capacity of up to 4,700 MW.
Contact:
Contact:
PNE WIND AG
Rainer Heinsohn
Head of Corporate Communication
Tel: +49(0) 47 21 - 7 18 - 453
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Rainer.Heinsohn@pnewind.com
PNE WIND AG
Investor Relations
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 454
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Scott.McCollister@pnewind.com
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19.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: PNE WIND AG
Peter-Henlein-StraÃe 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: info@pnewind.com
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1EMCW3, ,
DE000A0Z1MR2, , DE000A1R0741
WKN: A0JBPG, A0B9VG, , A1EMCW, , A0Z1MR, , A1R074
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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307491 19.12.2014
DGAP-News: PNE WIND AG has founded the German and the UK Yieldco companies
| Source: EQS Group AG