German wind farm developer PNE Wind recorded a solid start in 2017 driven largely by the offshore wind segment.
In addition to the sale of the 584MW Atlantis 1 project to the Swedish energy group Vattenfall, the Gode Wind 3 offshore wind farm developed by PNE Wind was one of only four offshore wind projects selected in the first German wind farm tender.
PNE Wind sold the Gode Wind 1, 2 and 3 projects to DONG Energy in 2012.
Markus Lesser, Chief Executive Officer of the PNE WIND Group,said: “The success in the tender process is proof of the high quality of our projects and demonstrates that we, as a globally operating enterprise, can benefit from experience gained with this system in other countries. PNE WIND had a positive start to 2017, which we see as a year of transition. We will undertake significant investments in the upcoming months to lay the cornerstone for long-term positive development.”
In the first three months of 2017, the PNE Wind Group generated sales of EUR 20.4 million, compared to EUR 11.9 million recorded in the first quarter of 2016. The group’s operating profit (EBIT) for the quarter was EUR 0.3 million, compared to EUR 0.2 million in Q1 2016.
“In addition to the planned investments in the expansion of our business model, we are currently working intensively on reducing the project costs,” Lesser said.
”First discussions, inter alia, with manufacturers of wind power turbines have been very promising. We are expecting progress in this respect and think that our group of companies is, as a whole, in a good position. Against this backdrop, we confirm our Group EBIT guidance for 2017 in the range of between euro 0 and 15 million.”