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PNE WIND AGImage brochure (english)

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TailwindRenewable power generation on economically sustainable

conditions

• Development, project planning, realisation, financing and operation of wind farms in Europe and North America, on land and offshore

• Complete wind farm service offering all from a single source

• Tried and proven business model based on many years of wind farm planning experience

• Around 100 wind farms realised successfully – throughout Germany

• Comprehensive network with landowners and investors as well as decision makers in politics, communities and business

• Extensive know-how in wind turbine selection and financing

• Professional development of wind farms which provide attractive returns

• The appropriate solution for every location

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IntroductionPassion for Energy

Successful wind farm project planning in the right locationsEnergy from wind power is independent, future oriented and sustainable – there-fore these attributes also apply to PNE WIND AG because we have a passion for developing wind farms.

Whether onshore or offshore, at home or abroad, PNE WIND AG stands for compe-tence in the planning and implementati-on of wind farm projects.

In the following pages, I would like to acquaint you a little more closely with the advantages of wind energy and at the same time present our business to you.

I hope that you find the material in this brochure informative and at the same time enjoyable to read!

Kind regards,

Martin BillhardtChairman of the Board of Directors

Martin Billhardt

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Harnessing the winds power profitably

Windpark Nordleda

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PNE WIND AGs business modelOne stop wind farm project planning

Imagine you are building a house. You are unlikely to be in a position to do the necessary work yourself and you will need professionals to plan, perform and supervise the necessary work in a reliable and efficient manner for you.

This is precisely the role we take on in the wind farm project development. At PNE WIND AG our business is to develop wind farms which upon completion supply clean and reliable electricity for years to come.

Our scope of service begins with the first survey and continues through all steps in the value added chain. Once the turbines are installed we offer operation and maintenance service to our customers to ensure the wind farms efficient operation.

When we sell our projects is determined on a case by case basis but generally speaking we sell onshore wind farms after commissioning on a turnkey basis and offshore wind farms prior

to construction on a ready to build basis. Thus, PNE WIND AG covers each individual phase in the establishment of a new wind farm.

PNE WIND AG has been operating successfully in the wind energy market since 1995. In doing so, our wind farms are making a significant contribution to improving the sustainability of our power industry as well as making an effective contribution to climate protection.

We are helping to develop a future oriented technology, which promotes employment opportunities at home and lessens our dependence on foreign energy sources.

PNE WIND AG is focused on creating added value for our shareholders by capitalizing on the business opportunity created by the growing need for reliable and sustainable power solutions.

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Knowing where the wind comes from

Windpark Altenbruch II

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Value add chain – from the survey to the handover of the wind farmWind farm project planning on land and offshore

• Development, planning, realisation, financing and operation

• From the first wind analysis to the operation of the completed wind farm

• PNE WIND AG offers the appropriate solution for every step of development

Value chain

Development Financing Construction ServiceSale

• Acquisition ofthe site

• Wind analysis• Selection of

equipment• Permit

• Financial analysis

• Legal concept• Sales /

marketing• Project

financing

• Grid connection

• Infrastructure• Assembly• Start-up of

operations

• Transfer to purchaser

• Technical and commercial management

Value chain

3 to 5 years

PNE WIND as a wind farm operatorPNE WIND not only carries out the project planning for wind farms but also operates them on

behalf of its customers and in certain cases for its own account. PNE WIND AG is therefore

not exclusively a developer but also an “independent power producer” (IPP). This means that

PNE WIND AG, as an independent operator, feeds electricity generated by wind power into the

electricity grid of the Federal Republic of Germany.

Why, as a project developer, do we also operate wind farms ourselves instead of just selling

them? As an example, let’s take the “Altenbruch II” wind farm which was commissioned in

2009. At this location we have installed wind turbines designed for offshore operation due to

the very strong wind conditions (up to 8.0 m/s at a hub height of 105 m) and the wind farms

close proximity to the sea. This provides us with firsthand experience in the operation of

offshore wind energy systems which helps us better understand the challenges of this exciting

new market. Last but not least the cash flows generated from our own wind farm operations

also provide important resources to fund our development activities.

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Planning and realising wind farms on landFrom the site survey to the completed wind farm

An analysis and the acquisition of a suitable wind farm site mark the beginning of any project. Based on the local conditions, the wind turbine to be constructed is chosen and subsequently the necessary approval process is initiated.

An important point is also the financing. Here, our experts have many years of experience and comprehensive specialist knowledge. In addition to the financial analysis, this phase also comprises the legal structuring of the subsequent operating company, selling the wind farm to investors and securing the actual project financing.

When approval has been granted, the wind farm can be constructed. For this purpose, the grid connection must

first be laid and the corresponding infrastructure provided. Thereafter, the wind energy systems are assembled and commissioned. Afterwards, the wind farm is handed over to the operators.

After commissioning, we do not leave them to their own devices. On the contrary: we offer to take over the technical and commercial operation to ensure that the wind farm runs as efficiently as possible.

Currently, we are working on onshore wind farm projects at home and abroad with a volume of approximately 3,100 MW.

Windpark Langwedel

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PNE WIND AG – present in international growth markets“Made in Germany” as the foundation for successful expansion

Already today we are using our specialist

knowledge we gained in our German home

market in international markets and thereby

extend our success to other countries. As a

secure, efficient and environmentally friendly

source of electricity, wind power is gaining in

international importance. This leads to the

creation of market opportunities, which we

will exploit decisively!

Hungary, Bulgaria, Rumania, Turkey, Great

Britain, Canada and the USA – Currently,

we are already represented in these growth

markets either in joint ventures with local

partners or through our own subsidiaries.

We will continue to pursue this route of

international expansion by constantly

monitoring developments in new target

markets.

International operations – presence in foreign marketsInternational operations – presence in foreign markets

North-America Europe

CA

GB

DE

TR

BG

ROHU

US

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The future of energy supply“Wind power plants” on the high sea

The construction of a wind farm on the high sea (offshore) makes new demands on the project team. Water depth, shipping lanes and tidal movements pose significant challenges to planning. In addition, the approval process for offshore wind farms is substantial and requires an auditing process lasting several years. With four approvals already having been granted for our projects in German waters, PNE WIND AG has been successful in providing evidence of its competence in this field. In total, we are currently working on nine projects in the North Sea.

Due to the location – often far from the coastline – the demands on material are particularly high. The foundations must be robust and the wind energy turbines themselves must be capable of withstanding enormous loads. PNE WIND AG is already gaining practical experience in this respect by operating the Cuxhaven offshore reference field

“Altenbruch II” wind farm. Here, there are high wind speeds, comparable with those prevailing on the high sea, which allows us to gather important knowledge for the operation of offshore wind farms.

Neither the European nor the German climate targets can be achieved without an expansion in offshore wind power. The generation of electricity by means of “wind power plants” offshore provides a number of advantages: the availability of large areas with high average wind speeds make the operation of wind farms here particularly attractive.

For this reason, PNE WIND AG indentified offshore wind as a growth market at a very early stage and will expand this further in the medium and long term. In addition, we will also employ our know-how in the development of international projects.

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Nautical chart with flags for all projects

6

12345

789

Gode Wind I*

Gode Wind II*

Gode Wind III*

Nemo

Jules Verne

Nautilus

Nautilus II**

Borkum Riffgrund I*

Borkum Riffgrund II*

4 6

5

1

2

89

Norden

North Sea

3

7

* sold to DONG Energy** sold to Ventizz portfolio company SSP Technology Holding ApS

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Know-how, to ensure the wind farm’s operation

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Technical and commercial business operationService for the ongoing business

• Technical supervision• Wind farm management• Commercial support

After completion, commissioning and handover of the wind farm to our customers, PNE WIND AG continues to support the wind farm operation through our “Operation and Maintenance” division. We take over the technical and commercial operation management to ensure the turbines operate as efficiently as possible.

As part of our service offering, we supervise the wind energy systems in order to recognise problems at an

early stage, thus avoiding or minimising potential down times. Whenever possible, we ensure that scheduled service and maintenance is not carried out at times when strong winds are forecasted thereby reducing the possibility of lost revenue.

Our commercial management offering is designed to provide a complete service package for the owners of wind farms. We also offer our technical and commercial operation serviced to wind farms that were not developed by PNE WIND AG. We would be happy to personally inform you about all of the benefits of this service.

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Always close to the wind

Windpark Buchholz

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To the point: RepoweringGreater efficiency, higher returns

Repowering is a term when new and more efficient wind turbines are used to replace older systems which have reached the end of their functional design life. In the wind sector constant technological advancements contribute to efficiency improvements and a significant increase in performance can be achieved by modernising wind parks. This benefits both the climate as well as the operator.

This is why, in the medium to long term, repowering is increasingly important in established markets such as Germany where there is a large number of older turbines installed in areas with very strong wind resources. The German

renewable energies law (EEG) supports this trend and a bonus is paid for electricity generated from “repowering projects” and supplied to the grid.

This business sector is being actively developed by PNE WIND AG. With the successful repowering of several wind farms in Germany, we are able to clearly demonstrate of our expertise as a project developer.

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Using wind power profitably

Windpark Altenbruch II

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Energy of the futureEcologically correct, economically sensible, secure, attractively

priced

Electricity drives the world forward. To date, worldwide supply has been based above all on the use of limited fossil fuel resources such as oil, coal and gas which has resulted in massive amounts of pollutants being released into the atmosphere

The effects of climate change are already noticeable. This combined with uncertainty concerning the availability of these raw materials have led to a reassessment in the way governments are choosing to meet future energy needs.

Renewable electricity production is increasing seen as a solution which lessens our dependence on fossil fuels, avoids the need for energy imports from abroad and ensures a sustainable and attractively priced supply of energy. Wind power helps to avoid climate changing CO2 emissions which in turn benefits all of society.

At the national level, countries benefit from lower energy imports and by providing the necessary areas for wind farm development, rural communities are offered a secure and profitable income. The expansion of wind energy also promotes the creation of new, future oriented employment.

Finally, by making an investment in appropriate companies, investors are provided with an attractive investment – ecologically correct and economically sensible.

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Pioneer in climate protection

Windpark Langwedel

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Stable political framework conditions – the EEG in GermanyThe law provides attractive conditions and a high level of planning

security

Worldwide, the Federal Republic of Germany is considered to be the pioneer in climate protection. In the renewable energies sector this is above all due to the German renewable energies law (EEG), which has already been in force since the year 2000 and is now being copied throughout the whole world. The EEG establishes a legal framework on which the expansion of renewable energies in Germany is based.

The EEG guarantees a fixed remuneration for every kilowatt hour of electricity generated from renewable energies. The law also states that electricity from renewable energies must be given priority for being fed into the grid. These provisions apply to all renewable energy suppliers such as sun, water, geothermal energy, bio mass and also, of course, wind energy.

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Successful in the market since 1995

Windpark Altenbruch II

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Competence which countsAbout 100 wind farm projects already implemented successfully –

throughout Germany!

Total installed nominal output (in MW)

0

200

400

600

800

1000Installierte Gesamtnennleistung (in MW)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2012 2013

128

74

106

73

36

100

17 6

122

180

254

360

419

492528

628 645 651

772

59

32804

10814

6820*

New

Accumulated

* Status: April 2013

Installed wind farms of PNE WIND AG (extract)

Dunningen

Pülfringen I + IIErlfeld

Helenenberg I + II + III

Laubuseschbach

Waldfeucht, BlauensteinWaldfeucht-Bocket I + IIWaldfeucht-Obspringen

Willich, Kaarst

Wesel

Langenberg

Hopsten I + II

Wagenfeld-Ströhen I + II

Langwedel

Grasberg, Hassendorf, GyhumLange Heide

Oldendorf

Schwienau

Westerbur, Ostermarsch, BensersielUtgast, Theener I + IIDornumersiel, Holtriern, Großheide

Altenbruch I + II, Hörne, NordledaOsterbruch, Wanna I + II

BremervördeIselersheim

Gerdau-Schwienau I + IIHiddestorf

Klein SüstedtBuchholzGardelegen

Schulenburg

Elze

Straßfurt

Sieglitz

Lauterbach

Extertal

Keula-Helbedündorf

Rakow

Lübz I + II, Werder

FalkenhagenKötzlin-Barenthin I + IIKemnitz, Wilmersdorf

Tüchen, Perleberg-QuitzowZernitz

Groß-Welle

Prötzel

Freudenberg

Leddin

Wulkow

Carzig

Niemegk I + II

Calau

Brieske

Westeregeln I + II

Görlitz

Lissa, Grana,Kretzschau, Rositz

Alt Zeschdorf

GörikeMangelsdorf

Kemberg I + II

Highlights

PNE WIND AG with its headquarters in Cuxhaven plans and realises wind park projects on land (onshore) and on the high sea (offshore). Our core competence lies in the development, project planning, realisation and financing of wind farms as well as in their operation or sale and subsequent business operation respectively. To date, we have already constructed around 100 wind farms!

Besides our business activities in our established German home market, PNE WIND AG is increasingly expanding into dynamic growth markets and is already represented in Hungary, Bulgaria, Romania, Great Britain, Canada and the USA via joint ventures and subsidiaries.

Furthermore, PNE WIND AG is developing offshore wind farm projects,

of which several major projects in German waters have already been approved and sold to utilities and institutional investors. We are also considering an entry into promising foreign markets in the offshore sector.

We are your reliable partner for the planning, implementation and operation of wind farms. Our comprehensive service offering and the many years of

experience gained by our

employees provide the best prospects for

the economic success of your project.

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Imprint

PNE WIND AG

Peter-Henlein-Straße 2-427472 CuxhavenGermany

Telephone: + 49 (0) 47 21-718-06Fax: + 49 (0) 47 21-718-444email: info@pnewind.com

www.pnewind.com

Board of Directors: Martin Billhardt (Chairman), Jörg Klowat und Markus Lesser

Court of registry: TostedtRegistered number: HRB 110360

April 2013

Editing, typesetting and layout:cometis AGUnter den Eichen 765195 WiesbadenGermany