Dong Energy to sell onshore wind business in Denmark

Copenhagen - Dong Energy signed an agreement today with the Danish energy company SE and the Danish pension fund PFA under which SE and PFA will acquire Dong Energy

The aggregate sales price (enterprise value) for the onshore wind business is DKK 760 million (equivalent to approx. EUR 102 million). The divestment concerns a total of 272 wind turbines with a total installed capacity of 196 megawatt. The turbines are located at approx. 80 different sites in Denmark with an average operational track record of 16 years. The divestment includes an early stage development project totalling up to 23 megawatt. The business includes a Danish organisation consisting of approximately 18 employees, who will be employed by the purchasing company going forward.

With the publication of its new strategy and financial action plan on 27 February 2013, Dong Energy announced its intention to divest non-core assets of a value of DKK 10 billion in 2013-2014 and that its Wind Power business will be focusing on offshore wind in the future.

Source: IWR Online, 25 Jun 2013