Dong Energy sells half of its share in London Array

Fredericia, Denmark - DONG Energy has today signed an agreement to sell half of its 50 per cent share in the 630 MW offshore wind farm London Array 1 to La Caisse de d

With this partnership divestment DONG Energy delivers on the fifth and final point in its financial action plan presented in February 2013 securing the foundation for the future growth in DONG Energy. At completion of the transaction, La Caisse will enter the existing joint venture with a 25 per cent ownership share alongside DONG Energy (25 per cent), E.ON (30 per cent) and Masdar (20 per cent). DONG Energy will remain the service provider of O&M services to London Array. DONG Energy and La Caisse have also agreed a long-term transfer agreement for the power production and green certificates arising from La Caisse

Source: IWR Online, 05 Feb 2014