DGAP-News: Euler Hermes Rating assesses PNE WIND AGs creditworthiness and sustainability at BBB-
(firmenpresse) - DGAP-News: PNE WIND AG / Key word(s): Miscellaneous
Euler Hermes Rating assesses PNE WIND AGs creditworthiness and
sustainability at BBB-
23.04.2013 / 17:34
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Cuxhaven, 23rd April 2013 - Euler Hermes Rating has given the wind farm
project developer, PNE WIND AG a creditworthiness and sustainability rating
of BBB- (equivalent to 'investment grade'). With the realisation of the
planned (foreign) projects and a corresponding stabilisation of income and
cash flows, Euler Hermes Rating anticipates a positive development in the
rating.
According to Euler Hermes decisive factors for the current rating are the
current good capital structure and liquidity resulting from the sale of the
'Gode Wind I to III' offshore wind farms. Due to the nature of the
business, profitability and cash flow generation are subject to strong
fluctuation. Liquidity is very dependent on project sales. In recent years
PNE WIND AG has accelerated its project development activities which will
lead to improving overall performance and increased profits in the coming
years.
In Euler Hermes Rating's opinion, PNE WIND AG as a wind farm project
developer is well positioned in both the onshore and offshore sectors of
the German market. In addition, the long term increase in the proportion of
renewable energies, and in particular wind energy, is having a positive
influence on the rating. With the now confirmed purchase of the majority
shareholding in WKN AG, Husum, PNE WIND AG will significantly expand its
project pipeline upon completion and simultaneously increase its
diversification and presence abroad.
Euler Hermes Rating Deutschland GmbH has been rating companies since the
beginning of 2002. Further information about Euler Hermes Rating
Deutschland GmbH is available at www.eulerhermes-rating.com
Company profile
With its headquarters in Cuxhaven, PNE WIND AG plans and realises wind farm
projects on land (onshore) and on the high seas (offshore). In doing so,
its core competence lies in the development, project planning, and
financing of wind farms and in their operation and sales respectively with
the provision of subsequent service. To date, the company has constructed
99 wind farms with 571 wind energy plants and a total nominal output of 820
MW. In Germany (onshore), wind farm projects with over 1,000 MW of nominal
output are currently being developed.
In addition to its business activities in the established German home
market, PNE WIND AG is increasingly expanding into dynamic growth markets
and is already represented in joint ventures and by subsidiary companies in
Southeast Europe, Great Britain, USA and Canada. In these countries wind
farm projects with a nominal output of more than 2,000 MW are currently
being developed and are to be completed in the medium term.
In addition, PNE WIND AG is developing offshore wind farm projects, of
which four major projects in German waters have already been approved. An
entry into promising foreign markets is also being examined with regard to
the offshore sector.
Contact:
Contact:
PNE WIND AG
Rainer Heinsohn
Head of Corporate Communication
Tel: +49(0) 47 21 - 7 18 - 453
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Rainer.Heinsohn(at)pnewind.com
PNE WIND AG
Investor Relations
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 454
Fax: +49(0) 47 21 - 7 18 - 373
E-mail: Scott.McCollister(at)pnewind.com
Investor Relations
cometis AG
Ulrich Wiehle / Janis Fischer
Tel: +49(0) 611 - 205855-64
Fax: +49(0) 611 - 205855-66
E-mail: fischer(at)cometis.de
End of Corporate News
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Language: English
Company: PNE WIND AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: info(at)pnewind.com
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1EMCW3, , DE000A0Z1MR2
WKN: A0JBPG, A0B9VG, , A1EMCW, , A0Z1MR
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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208249 23.04.2013
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Datum: 23.04.2013 - 17:34 Uhr
Sprache: Deutsch
News-ID 251997
Anzahl Zeichen: 6199
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Kategorie:
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