09.12.2016

Cuxhaven, December 9, 2016 - Today PNE WIND AG signed a share purchase agreement with a subsidiary of AREF II Renewables Investment Holding S.á.r.l. concerning the sale of an 80% shareholding in PNE WIND YieldCo Deutschland GmbH, which has an enterprise value of more than EUR 330 million. PNE WIND AG retains a share of 20% in the company and will be responsible for the operational management of the YieldCo and its wind farm pro-jects. The closing of the share purchase agreement is subject to conditions precedent, includ-ing the approval of the transaction by the Federal Cartel Authority. The payment of the pur-chase price in the amount of approximately EUR 103 million is expected before this year´s end.

The share purchase agreement now signed is a major step towards attaining the earnings target of a consolidated EBIT up to EUR 100 million for the financial year 2016, provided that its closing takes place this year.

The purchaser, a sub-subsidiary company of the energy- and infrastructure-fund Allianz Re-newable Energy Fund II, is managed by Allianz Global Investors GmbH. PNE WIND AG has bundled in PNE WIND YieldCo Deutschland GmbH wind farm projects with a total of 142.5 MW, including wind farm projects under construction with a total of 6.6 MW. Further-more, PNE WIND YieldCo Deutschland GmbH has an option to purchase a further 9.9 MW from PNE WIND Group.

This insider information in accordance with Article 17 of the EU Market Abuse Regulation (MAR) was published on December 9, 2016 at 08:49 p.m.

PNE WIND AG published this content on 09 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 December 2016 20:10:07 UTC.

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