PNE WIND : subsidiary WKN sells Vivaldi Springtime project

12.07.2017

Pattern Development acquires 80 megawatts Montana wind project

Cuxhaven, July 12, 2017 - Windkraft Nord USA Inc., a subsidiary of WKN AG, a leading developer of wind energy farms based in Husum, Germany, itself owned by PNE WIND AG, sold the project rights of the US-wind project 'Vivaldi Springtime' to Pattern Energy Group 2 LP ('Pattern Development'). Pattern Development is a leader in developing renewable energy and transmission assets. With a long history in wind energy, Pattern Development's highly-experienced team has developed, financed and placed into operation more than 4,000 MW of wind power projects.

The project rights of the 80 megawatts Vivaldi Springtime wind project located in the State of Montana have been sold to Pattern Development ready to build including power purchase agreement (PPA) and grid connection. Vivaldi Springtime is a 'Qualified Facility' under U.S. law.

Start of construction is planned for 2017 with commercial operation day (COD) expected mid 2018. The Parties have also agreed on an option to expand the project.

Roland Stanze, WKN Chief Operating Officer (COO), states: 'Vivaldi Springtime has been a long term development of the WKN Group. Over the last couple of years the project has been updated in regards to permitting and a power purchase agreement (PPA) has been obtained with extensive support of the local development team of PNE WIND USA.'

Ron Flax-Davidson, Chairman & CEO of PNE WIND USA adds: 'The closing of the transaction represents the successful culmination of several years of intensive wind development activities by PNE WIND and WKN in USA. We look forward to the completion of several other development wind projects in USA in the very near future.'