in News Departments > Projects & Contracts
print the content item

DONG Energy has inked a deal to sell 50% of the 252 MW Gode Wind 2 offshore wind project, located in the German North Sea, to a consortium of Danish pension funds.

The total sales price amounts to approximately EUR 600 million, which will be paid between this year and 2016. Under the transaction, pension fund PKA will acquire 24.75% of Gode Wind 2, with Industriens Pension acquiring 10.5%, Laerernes Pension 8.75% and Laegernes Pensionskasse 6%.

Construction of Gode Wind 2 is expected to commence in 2015, with full commissioning of the project and neighboring wind farm Gode Wind 1 slated for 2016. The parties have agreed that DONG Energy will provide operations and maintenance services to Gode Wind 2 upon completion.

Samuel Leupold, executive vice president of DONG Energy’s wind power business, comments, “By 2020, we want to have tripled our installed capacity of offshore wind compared to the 2.2 GW we have built today. Today’s agreement enables us to free up capital to continue our investment program and thereby assists us in reaching this target.”

The transaction is subject to approval by the relevant competition authorities.




Advertisement

Trachte_id2056
Latest Top Stories

Slow Turning: What's Stopping Individual Blade Pitch Control From Wider Acceptance?

Advances have made it feasible for wind turbine blades to adjust individually. However, other factors are preventing the technology's widespread use.


Deepwater Hits Financial Close For Block Island Wind Farm, Expects Summer Construction

The Providence, R.I.-based offshore wind developer becomes the first to financially close on a U.S.-based offshore wind project.


More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.

Hybrid Energy Innovations 2015