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KGAL acquires two more WKN wind farms

The German wind farms Kastorf and Kropp will be commissioned in 2014

(PresseBox) (Husum, ) At the close of 2013 the Husum project developer WKN AG sold two more wind farms - the Kastorf and Kropp projects - to the KGAL Group with its headquarters in Grünwald near Munich.

The Schleswig-Holstein project Kastorf in the district of Herzogtum-Lauenburg consists of five wind turbines of the Vestas type V112 each with an installed capacity of 3.075 megawatts. Two of the turbines are to be erected at a hub height of 94 metres and the other three each at a hub height of 119 metres. The commissioning of the wind farms is planned as of the second quarter of 2014; corresponding preparatory construction measures have already been taken. The wind farm will feed directly into the 110-kV grid via a transformer station. The expected annual power production of the 15.375 megawatt farm amounts to approximately 41.5 million kilowatt hours. Thus, when put into operation the wind farm developed by WKN will provide environmentally friendly energy to about 12,000 households in Schleswig-Holstein.

The Kropp wind farm with a total installed output of 18.45 megawatts is also being erected in Schleswig-Holstein (district of Schleswig-Flensburg). Now three of the six turbines of the Vestas type V112 with a hub height of 94 metres and total output of 9.225 megawatts have been sold to KGAL. The three remaining turbines had already been sold to the public wind farm Bürgerwindpark Kropp-Tetenhusen GmbH & Co. KG. The wind farm's commissioning is planned for the second quarter of 2014. Also with regard to the connected public wind farm, project approval was obtained in record time. The future wind farm will be connected to the grid via a seven-kilometre-long cable route and, after its commissioning, will supply approx. 15,000 households with renewable electric energy.

The general contractor of the turnkey wind farms to be erected is, in both cases, WKN AG while construction and final financing of the project are conducted through the Norddeutsche Landesbank.

In 2013 KGAL had already acquired the German turnkey wind farm Hollige of the Husum project developer as well as its rights to the French project Dargies. "It's a great feeling to have been able once again to close further deals with KGAL,"Martinus Schwerweit, CEO of WKN AG, comments.

The KGAL Gruppe has been initiating and accompanying longterm real investments with lasting and stable revenues for more than 45 years. Its range of services comprises the conception and management of selected mutual funds and funds for institutional investors as well as investment solutions for family offices and foundations.

KGAL AG

As at 31.12.2012, the KGAL Group managed an investment volume of EUR 25.1 billion. KGAL currently manages capital for 110,600 investors (incl. multiple subscriptions) with equity investments in a total of 135 active limited partnership funds. Investors have entrusted EUR 6.4 billion in equity capital to KGAL for these funds. KGAL is an investment company owned by Commerzbank, BayernLB, HASPA Finanzholding and Sal. Oppenheim. The KGAL Group has 368 employees (as at 31.12.2012).

WKN AG

WKN AG has planned, installed and operated turnkey wind farms and solar power systems in Germany since 1990. In addition, WKN AG is also internationally represented by subsidiaries in numerous European countries, South Africa and the US. Up to now, the company has initiated and realized projects with a total of more than 1,160 megawatts capacity.

The headquarters of the WKN-Group are located at the "House of Future Energies", an established center of excellence for renewable energy sources in Husum/Germany. 82.75 percent of WKN shares are owned by PNE WIND AG located in Cuxhaven/Germany while 17.25 percent are held by private and institutional shareholders.