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WKN sells German project to Allianz

WKN Windkraft Nord AG has sold the Freyenstein wind energy project which it developed to Allianz Specialised Investments. The energy farm in the north of Prignitz (Brandenburg) was built in the first half of 2006 and placed in operation several weeks ago. Eight type Vestas V80 wind turbines with a total installed capacity of 16 megawatts have since been supplying environmentally friendly power to around 7,200 households. Allianz Specialised Investments is a company of the Allianz Group which is responsible for group investments in renewable energy sources.

Following their first foreign wind energy project in Francofonte (Sicily, Italy) at the end of 2005, this is now the second joint transaction of the two companies. "We’re delighted to be working together with Allianz Specialised Investments again," said Michael Ostwald on conclusion of the agreement. The authorized signatory of WKN AG continued: "It’s becoming more and more apparent that the field of renewable energy sources is gaining importance within the international financial world. Against this backdrop our business partners are benefiting from WKN’s recognized expertise and long-standing experience."

For Allianz Specialised Investments the investment is a further step in its commitment to long-term investment in renewable energy. Wind energy in particular has great potential for growth and is one of the weapons in the battle against climate change.

“This investment is our first commitment to renewable energy sources in Germany”, points out David Jones, CEO of Allianz Specialised Investments. "We’re pleased to continue our successful cooperation with WKN and Vestas in this way," comments Jones.

WKN Windkraft Nord AG
WKN AG has planned, installed and operated turnkey wind parks in Germany since 1990. In addition, WKN AG is also expanding abroad and is internationally represented by subsidiaries in numerous European countries and the USA. WKN AG is part of the innovative "House of Future Energies" corporate network in Husum, an established center of excellence for renewable energy sources in Germany. The company is a wholly owned subsidiary of BGZ Beteiligungsgesellschaft Zukunftsenergien AG, or BGZ AG for short.

Allianz Specialised Investments
As part of the direct private equity activities of Allianz, Allianz Specialised Investments is dedicated to the segment of renewable energy investments. Its aim is to build up a long-term portfolio in renewable energy sources, especially wind energy.

For further queries please contact Catrin Petersen, spokesperson of the BGZ Group on 048 41 – 89 44 516 or Antje Weykopf, Spokesperson of the Allianz Group, on 089-3800-17790.

Publication and reprint free of charge. Archive copy requested.

WKN Windkraft Nord AG
Haus der Zukunftsenergien
Otto-Hahn-Straße 12 – 16, D-25813 Husum
Tel. 04841 – 89 44 232, Fax 04841 – 89 44 225
www.wkn-ag.de

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