Press release

PNE AG has acquired the "Papenrode" wind farm

- 15 wind power turbines with 22,3 MW nominal capacity

- Wind farm now under the company's own operation

- Plans for subsequent repowering

Cuxhaven, May 15, 2019 - PNE AG, which is internationally active in the development and operation of projects, is taking over the "Papenrode" wind farm in the west of Lower Saxony. The wind farm comprises 15 wind power turbines with a total nominal capacity of 22,3 MW. PNE AG is planning to prepare the wind farm for repowering. PNE will initially operate the wind farm in-house.

Markus Lesser, CEO of PNE, comments: "In addition to developing new projects, we are also prepared to increasingly take over existing wind farms that are already in operation. By continuing to operate the plant, we can benefit from the proceeds from the marketing of the electricity generated there. In addition, we can prepare a possible repowering, i.e. the replacement of existing wind turbines by more modern and efficient ones. The market for this exists."

By way of repowering, the electricity generation of a wind farm can be multiplied. This has been proven by the experience gained in other projects that PNE has already repowered in recent years.

Fritz Laabs, previous wind farm operator: "I am very pleased about the successful completion and I am looking forward to further goal-oriented cooperation with PNE after the very competent talks held to date. Together we can work on repowering and thus continue to secure the future of wind energy at this site.

PNE AG's own electricity generation will be further strengthened by the takeover of the "Papenrode" wind farm. As a result, this area will be expanded to include wind farms with a total rated nominal capacity of 89.9 MW.

Great potential for repowering
There is great potential for repowering in the German wind energy market. From December 31, 2020, thousands of wind power turbines will lose their entitlement to fixed EEG remuneration because the statutory period for this will expire. This means that in 2021 approx. 4.5 GW of installed wind capacity will face the challenge of how to generate adequate electricity revenues in the future. In addition to the electricity revenues, the operating costs also represent a challenge for the wind turbines concerned, which can only be solved professionally with a thoughtful concept of continued operation. The PNE Group can contribute its extensive experience to these issues.

About the PNE Group

The internationally operating PNE Group with its brands PNE and WKN is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed to become a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the Company's services encompass all the phases of developing and operating wind farms. In addition to wind energy, in the future, the Company's range of offers will include photovoltaics, electricity storage, services and the supply of clean electricity. In this context, PNE is also involved in the development of power-to-gas solutions.

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