PNE WIND AG sells the first phase of the wind farm Calau II

The wind farm has five wind turbines and a nominal capacity of 15.375 MW.

Cuxhaven, 7 January 2014 – The wind farm project developer PNE WIND AG has sold the first phase of the wind farm Calau II (Brandenburg) to the Hamburg based investment company CEE. The wind farm has five wind turbines and a nominal capacity of 15.375 MW. Most of the wind turbines have already been connected to the electricity grid and the wind farm is nearly fully commissioned. Upon completion, PNE WIND AG will remain responsible for the technical operation of the wind farm which it developed. HSH Nordbank provided the long term debt financing and the new owner CEE has taken over the commercial operations of the project.

The wind farm is located in a forested region and to harness as much energy as possible from the site PNE WIND AG selected Vestas V112 3.0 MW turbines with very high hub heights of 140 meters. The wind farm produces enough clean and environmentally friendly electricity to power 13,000 four person households.

CEE has been a provider of capital to the renewable energy sector for more than twelve years. The Company has structured and financed projects in the areas of wind energy, photovoltaic, biogas and biomass. With a power portfolio of over 300 MW, CEE is one of the major "Independent Power Producers" in Germany. With a managed equity volume of more than EUR 400 million, CEE is expanding its power generation portfolio. Detlef Schreiber, CEO of CEE, comments, "We are delighted to purchase the Calau IIA wind farm developed by PNE WIND AG. In 2014, we plan to acquire additional wind farms in Germany as well as in France and thus increase the amount of electricity generated from renewable energies."

Martin Billhardt CEO of PNE WIND AG comments, "We are pleased with the outcome of this first project with CEE, which was successfully carried out in a timely fashion before the end of 2013." Roland Stanze who led the negotiations as Executive Vice President of PNE WIND AG commented, "In light of our large portfolio of wind projects, we have no trouble imagining this being the basis of a strong and long term cooperation in Germany and abroad."

Company profile
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, planning, financing, operation, sales and service of wind farms. To date, the PNE Wind Group has already developed wind farms with a total nominal output amounting to nearly 2,000 MW.

In addition to its business activities in the established German home market, PNE WIND AG is expanding into dynamic growth markets and is already represented through joint ventures and subsidiary companies in 14 countries in Europe, Africa and North America. In these countries wind farm projects with a nominal output of approximately 4,800 MW are currently being developed and are planned to be completed in the medium term.

In addition, PNE WIND AG is developing offshore wind farm projects, of which four major projects in German waters have already been permitted.

About CEE
CEE based in Hamburg is an investment company specialized in renewable energy with a managed equity volume of over EUR 400 million. The company primarily invests in energy generation projects within the wind energy, photovoltaic, biogas, biomass and near-surface geothermal energy sectors as well as in relevant technology companies. Together with RWE Innogy, CEE has a strategic partnership in the field of technology investments in young companies. Partners of CEE include German based institutional investors and family offices that have shown a long term interest in the renewable energy market. CEE is led by Lampe Equity Management GmbH belonging to Bankhaus Lampe KG and has more than ten years experience financing renewable energy.

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