“2013 was not only anexceptional year for PNE Wind AG in financial terms but it was also a year inwhich we laid the foundation for further development,” says chairman MartinBillhardt.

“The successfulplacement of our €100m ($138m) corporate bond, listed on the Prime Standard, provided us with the opportunity to take over approximately 83% of the shares in WKNAG, as well as acquire three offshore projects currently in the developmentstages.”

PNE