PNE WIND AG is Making Considerable Progress Towards Grid Connection and Financing of Gode Wind II Offshore Wind Farm

February 28, 2011

The wind farm developer, PNE WIND AG, has made considerable progress on the way to constructing the offshore wind farm “Gode Wind II”: The documentation required for the binding agreement to the grid connection has been submitted to the transmission grid operator TenneT. This means that PNE WIND AG has fulfilled all four criteria in the German Federal Network Agency’s position paper on the maintenance of the unconditional grid connection agreement.

This agreement is given by the responsible transmission grid operator, TenneT, specifying the grid connection date, when the current call for tender for the supply of the grid connection components has been completed. This progress in the project’s development has created the prerequisite for being able to begin the construction of the offshore wind farm “Gode Wind II” in 2012 as planned.

The following documents have now been presented for the construction of “Gode Wind II”:

– Supply contract for 84 Vestas type V112 wind energy systems.

– Preliminary contract for the supply of 84 monopile foundations by MT Højgaard A/S.

– Preliminary contract for the supply of the internal wind farm cabling by Draka Norsk Kabel AS.

– Preliminary contract for the supply of the wind farm’s transformer station by ALSTOM Grid GmbH.

PNE WIND AG had already fulfilled the first three criteria of the German Federal Network Agency’s position paper as early as September 2010. At that time, the approval, the construction schedule and evidence of the construction site subsoil analysis for all of the locations for the 84 offshore plants in the “Gode Wind II” wind farm were submitted. On this basis, TenneT gave its conditional grid connection agreement on 2nd November 2010 and commenced the call for tender process for the supply of the grid connection components.

Significant progress was also made with regard to the financing. Thus, after a round of presentations to renowned European banks, a number of written expressions of interest (Letters of Support) are available for financing the wind farm.

[mappress]

Source: pnewind, February 28, 2011