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PNE AG: PNE WIND AG sells offshore wind project „Atlantis I“ to Swedish utility Vattenfall

Cuxhaven, January 9, 2017 – PNE WIND AG sold the offshore project “Atlantis I”, located in the North Sea, to Swedish utility Vattenfall. Project “Atlantis I” will be handed over to Vattenfall upon closing of the sale and purchase agreement, which is still subject to various closing conditions, for a purchase price in a lower double digit million Euro amount.

PNE WIND will also participate in the further value-add of the project achieved by Vattenfall through milestone payments, and will remain involved in the project “Atlantis I” as service provider.

PNE WIND acquired the project in 2013 and has continuously developed it ever since. In doing so, the project parameters could be upgraded so that now 73 multi megawatt class wind-turbines can be installed.

This insider information in accordance with Article 17 of the EU Market Abuse Regulation (MAR) was published on January 9, 2017 at 03:17 p.m.