Press Release Investor Information

Vattenfall acquires project development company for offshore project

"Global Tech II"

Contact

STRABAG SE

Diana Neumüller-Klein

Head of Corporate Communications

& Investor Relations Tel. +43 1 22422-1116

diana.klein@strabag.com

Vattenfall GmbH Lutz Wiese Media Relations

Tel. +49 30 8182 2332

lutz.wiese@vattenfall.de

  • Seller is Erste Nordsee-Offshore-Holding GmbH, a subsidiary of STRABAG SE
  • Development of up to 79 wind turbines

Borkum, Vienna, 10 August 2016 Vattenfall has acquired Northern Energy GlobalTech II GmbH from Erste Nordsee-Offshore- Holding GmbH, a joint subsidiary of Austrian STRABAG SE and indirectly Etanax GmbH. Northern Energy GlobalTech II is the owner of the offshore wind project "Global Tech II". Global Tech II is located in the German North Sea 85 kilometres north of the island of Borkum. The project is currently under development with a number of up to 79 wind turbines in an area of 47 square kilometres. The contractual partners have agreed not to disclose any information about the purchase price.

Gunnar Groebler, Senior Vice President and Head of Business Area Wind at Vattenfall, comments: "The acquisition of Global Tech II underlines once more, that our growth ambitions in wind are under full steam. As a company we are on a good way to reshape our generation portfolio towards more renewable energies - in all our markets. With Global Tech II we also send a signal that we strongly believe in the German market under the framework of the new renewable energy law (EEG). In particular we consider the new tender system as the right way for further cost reductions in the offshore wind sector and thus for further acceptance for this effective way of power generation."

"We are delighted about the successful sale of our project Global Tech II to a highly competent market participant", says Alexander Dierkes for Erste Nordsee Offshore Holding GmbH. "We now wish Vattenfall a successful participation in the coming auction system, so that our development finally ends in the successful realization of this wind farm in the coming years", his colleague Felix Koselleck adds. Hannes Truntschnig, Board Member of STRABAG SE, is very pleased that all three by Erste Nordsee Offshore Holding GmbH successfully developed projects are now brought to the market.

About Vattenfall Wind Power

Vattenfall is a leading European energy company and operates over 1,000 wind turbines with a total installed capacity of 2,000 megawatts (MW). In 2015, Vattenfall produced more than six billion KWh (6 TWh) of wind energy. In terms of pure figures, this amount of electricity is enough to cover the annual energy needs of around 1.7 million average German households. By 2020, Vattenfall will double its wind capacity on land and sea to 4,000 MW. The company is investing EUR 5,5 billion euros to ensure this. In Germany the offshore wind project Sandbank (288 MW) is currently under construction, the erection of the wind turbines has started at the end of July.

STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machinery at the right place and at the right time in order to realise even complex construction projects - on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 73,000 employees allows us to generate an annual output volume of about € 14 billion. At the same time, a dense network of numerous subsidiaries in many European countries and, increasingly, on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com. Erste Nordsee Offshore Holding GmbH is a joint subsidiary of STRABAG SE and indirectly ETANAX, which has 12 projects under development in the German part of the North Sea together with the affiliate company Zweite Nordsee Offshore Holding GmbH.

Strabag SE published this content on 10 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 August 2016 13:47:01 UTC.

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