PNE WIND Disposes of all Rights to Nautilus II Offshore Wind Project (Germany)

Wind farm developer PNE WIND AG has sold all rights to the offshore wind farm project “Nautilus II” to SSP Technology Holding ApS. The offshore project is being planned in the North Sea and is still in the planning and approval phase.

SSP Technology Holding ApS, a company of Ventizz Capital Funds IV, acquires all shares of the project company “PNE WIND Nautilus II GmbH”. PNE WIND AG will further develop the offshore project as a service provider until approval is received and will participate in the success upon reaching defined progress in the project development. The project sale currently has no major impact on the operating profit (EBIT) of PNE WIND AG.

80 wind turbines with a nominal output of up to 7 MW per turbine are planned for the offshore wind farm project “Nautilus II”. This results in a wind farm output of up to 560 MW. The project site is located in the North Sea within the exclusive economic zone of the Federal Republic of Germany about 180 kilometres north-west of Helgoland. The approval is expected for 2013.

[mappress]

Source: pnewind, November 09, 2011;