Windreich Finally Pulls Away the Competitor: North Sea Wind Project 'Deutsche Bucht' Sold to Private Equity Firm

WOLFSCHLUGEN, Germany - Thursday, October 25th 2012 [ME NewsWire]

- New owner also commissioned Windreich AG the complete project implementation

- With German Bight Windreich achieves total revenues in hundreds of millions

(BUSINESS WIRE)-- Windreich AG enters into a purchase agreement for the wind farm 'Deutsche Bucht'with an Anglo-Saxon financial investor and at the same time acquired the responsibility for the subsequent turnkey erection, commissioning and the expected future operation of the wind farm. Hence this Windreich offshore Project is a success. The Swabian wind power pioneer finally conquered the German North Sea. 'Deutsche Bucht', alike its two predecessor projects 'Global Tech I and MEG 1' has an unconditional grid connection confirmation from the Federal Network Agency. According to a survey commissioned by wind: research, Windreich is by far the market leader in the German North Sea with its 35 percent of the secured areas.

'Taking into consideration such factors as permit approvals, grid connections, and adherence to schedules, we achieve a market share of 100 percent.' says Dipl.-Wirt.-Ing. (FH) Willi Balz, the Chief Executive Officer of Windreich AG. He further explains: 'At the moment, Windreich is the only offshore project developer that is adhering to time schedules. From the 10 gigawatts planned by the Federal Government till 2020, Windreich solely controls 1,000 MW with its offshore projects Global Tech I, MEG 1 and Deutsche Bucht, which will be on the net by 2015. Windreich AG will total 3,353 MW to go on the grid till 2020 (i.e. around 33%). Further approvals are expected in 2013. By merely complaining about basic conditions, not a single offshore wind farm will be implemented. Instead, we have consistently developed our projects in the recent months. '

The North Sea wind farm 'Deutsche Bucht' comprises the construction of 42 wind turbines of the type AREVA Multibrid 5 MW with a total capacity of 210 MW. This is a project worth over one billion euros; including foundation structures, farm cabling and substation platform. Windreich also coordinates the shipment to construction site; which is located about 30 kilometers north-west of Windreich's initiated project; Global Tech I, currently under construction. Dipl.-Wirt.-Ing. (FH) Willi Balz has developed Windreich AG through timely and thorough preparation of its offshore projects; which are cornerstones of the energy transition. 'The consistent and strong North Sea wind costs nothing and in this way, offshore projects will contribute significantly to lower energy prices in the future,' affirms the wind pioneer. The 210 MW installed in the windy North Sea will supply 670,000 people with clean, safe and affordable electricity. Through these inexhaustible wind powers more than 600,000 tons of CO2 and 2.8 tons of nuclear waste can be saved.

The wind speeds at the site 'Deutsche Bucht' are well over 10 m / s, with high resistance, which allows base load capacity. 'Deutsche Bucht' will outperform the test wind farm Alpha Ventus-4,500 full-load hours, by about 6 percent due to its convenient location.

The success of Windreich AG impresses in all respects. While competitors discontinue or delay projects, all Windreich projects are on schedule. 'With the speed and precision of an owner-managed company, and with our excellent team, we outshine every major corporation with ease', Windreich's board of directors, Anil Srivastava and Heiko Ross comment.

About Windreich AG

Established in 1999 Dipl.-Wirt.-Ing. (FH) Willi Balz, Windreich AG, based in Wolfschlugen, has company holdings in the area of on and offshore wind energy. The company Windreich AG employs over 130 experienced employees and is one of the most successful wind power companies in Germany, having financed, built and managed over 1,000 wind power farms. The top ten of the best offshore wind farms in Germany includes three wind farms of Windreich AG. These include the project of the year 2011, the prize- winning Global Tech I, with 400 MW power rating, in first place. Last year Global Tech I received 1.047 bn. Euros of project financing from 16 banks, including the European Investment Bank and the KFW. Willi Balz previously raised 800 m. equity capital from just six leading South German investors. With a nominal power rating of approx. 8.4 GW, further 20 projects have been secured in the German North Sea. This means Windreich is making a sustained contribution to the energy revolution in Germany, and in the future, will be able to supply nearly 20 million people with CO2 free wind energy.

Contact Windreich AG Corporate Communications

Telephone: +49(0)7022/953060 Email: pr@windreich.ag

End of Media Release

The picture belonging to this press release can be found here: http://newsfeed2.equitystory.com/windreich/190073.htmlCaption: Prozentualer Marktanteil und Netzanschlusstabelle

Contacts

Windreich

Nadja Donner

+49 (0) 07022 / 95 30 60

Email: n.donner@windreich.ag