Dong Energy acquires UK offshore wind project Race Bank

Fredericia, Denmark - The Danish energy company Dong Energy has acquired a 100% ownership interest in the UK offshore wind development project Race Bank, from the British utility Centrica.

The project has a total consented capacity of up to 580 megawatt and is located in the Greater Wash area approximately 27 km off the east coast of England. The Race Bank project has received all major consents from UK authorities for the construction and operation of the wind farm, which enable the commencement of offshore construction starting in 2017. According to the energy company, the purchase price (enterprise value) for the project is GBP 50 million (approximately DKK 450 million).

Source: IWR Online, 13 Dec 2013