Germany: Brancor, HYSSING Postpone First Payment for Gode Wind II

The wind farm project developer, PNE WIND AG, has not received the first payment from the sale of the “Gode Wind II” offshore wind farm project which was originally scheduled for the 29th February 2012.

PNE WIND AG now expects this payment on 23rd March 2012 together with the second installment from the buyer, HYSSING Vermögensverwaltungsgesellschaft mbH held by the Danish company, Brancor Capital Partners APS, under the management of Kim Bangestrup.

The payment of the first and second instalments amounting to over 50 percent of the total purchase price is now expected on 23rd March 2012. The payment will have a positive influence on PNE WIND AGs EBIT for the financial year 2011.

The agreed purchase price for all of the shares in the PNE Gode Wind II GmbH is based on a valuation of approx. EUR 317,000 per MW including the development costs paid in advance. 84 offshore wind energy systems with a total nominal output of 252 MW are to be constructed in the “Gode Wind II” offshore project.
[mappress] Offshore WIND staff, March 01, 2012; Image: pne