PNE WIND sold offshore wind project Atlantis I to Vattenfall

Thursday, 12 January, 2017 - 12:45

PNE WIND sold offshore project “Atlantis I”, located in the North Sea, to Swedish utility Vattenfall. The German wind farm developer remains involved in the project as service provider.

Project Altantis 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 will also participate in the further value-add of the project achieved by Vattenfall through milestone payments.

PNE WIND acquired the project in 2013 and has continuously developed it ever since so that now 73 multi megawatt class wind-turbines can be installed. The project is located in the North Sea in the German Exclusive Ecomomic Zone, approx. 84 km off the island of Borkum. As in previous divestitures of the offshore wind projects Borkum Riffgrund and Gode Wind, PNE WIND will remain involved in the further development of project Atlantis I as long-term service provider.
„With the sale of this project, the team led by Thorsten Fastenau, head of our offshore wind division, demonstrated once again the excellent quality of our development work in offshore wind projects”, says Markus Lesser, CEO of PNE WIND AG. “This project was prepared by us so that it is eligible to participate in the first ever tender in Germany for offshore wind projects this year. This was instrumental in getting the deal done.”

European energy company Vattenfall operates over 1,100 wind turbines with a total installed capacity of 2,200 MW. “The acquisition of Atlantis I is a very good start for us into the new year and I am really delighted. After our successful participation in the tender rounds in Denmark last year where we could reinforce our offshore wind portfolio with another 950 MW, we are now well on track in the German market as well. In this context we explicitly welcome the change towards the auction system under the new EEG regime also in Germany”, says Gunnar Groebler, Senior Vice President and Head of Business Area Wind at Vattenfall.

Apart from the Atlantis I project Vattenfall has already acquired the offshore wind project Global Tech II in summer 2016. Both projects, as well as the project Sandbank Plus, fulfill the criteria of the new §26 WindSeeGesetz for participation in the first auction rounds for offshore wind projects in Germany starting in April 2017.

Silke Funke /
PNE WIND / Vattenfall

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