The projects are currently in the planning approval process at the Federal Maritime and Hydrographic Agency (BSH).
"We have demonstrated with the Borkum Riffgrund and Gode Wind projects that we can successfully develop and sell offshore wind farm projects," said Thorsten Fastenau, Head of Offshore PNE Wind AG.
"The “Borkum Riffgrund I” project, which we developed and sold to DONG Energy and remain active as a service provider, is currently under construction. With this acquisition, we have doubled the number of our own projects in the North Sea and are therefore better positioned for the future," Fastenau said.
The PNE Wind AG subsidiaries will pay €17 million upon completion of the purchase agreement which is dependent of various closing conditions.
Additional variable installment payments, which could amount to significantly more than the fixed payment, will be due to the seller as the projects reach defined points in their development or have been sold.
According to current planning, up to 240 wind turbines with 5 MW of nominal capacity each could be built in the three acquired offshore wind farm projects. The project areas are located in the German Exclusive Economic Zone (EEZ) in the North Sea.
The purchase brings the number of wind farm projects PNE Wind AG is engaged in on the North Sea to 12, six being the company's own projects, with the remaining six being projects for which it is a service provider.
"With the acquisition of WKN AG, we have greatly expanded our onshore wind farm development activities at the national and international level and now, with the purchase of the "Atlantis" projects, we have done the same for our offshore activities," said Martin Billhardt, CEO of PNE Wind AG. "PNE Wind Group is therefore well positioned for its future development."
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