in News Departments > Projects & Contracts
print the content item

Investor-owned power and gas company E.ON has agreed to sell an 80% stake in its 207 MW Rodsand II offshore wind farm to the Danish energy company SEAS-NVE. The transaction values the wind farm, located in the Baltic Sea, at DKK 3.5 billion on a 100% enterprise basis.

At closing, a loan of DKK 2.1 billion will be taken out by the wind farm company and the proceeds remitted to E.ON. SEAS-NVE will then purchase 80% of the equity for DKK 1.1 billion. As a result, the total cash proceeds for E.ON will be DKK 3.2 billion.

E.ON says the deal is consistent with its “less capital, more value” strategic approach. E.ON will retain a 20% stake and will remain the operator for the lifetime of the wind farm.

“For E.ON, the sale of a majority stake in one of our largest offshore wind farms will successfully recycle our capital, ensuring we are able to realize more of our excellent renewables pipeline,” says E.ON Chief Financial Officer Klaus Schafer.

The final transaction is subject to regulatory approval, and the deal is expected to close around the end of the year.




Trachte Inc._id1770
Latest Top Stories

Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.

Navigant_id1983
Renewable NRG_id1934
Canwea_id1984