Dong Energy sells stake in German wind farm for $841m

Danish power company Dong Energy has agreed to sell its 50 per cent interest in the German offshore wind project, Borkum Riffgrund 1, in an agreement worth DKK4.7bn ($841m).

Energy Business Review reports that Kirkbi and the Oticon Foundation will purchase the wind project.

Investment from Kirkbi is worth DKK3bn ($537m), giving the company an ownership interest of 32 per cent in the development.

The Oticon Foundation will invest DKK1.7bn ($305m), representing an interest of 18 per cent, through its investment arm, William Demant Invest.

The wind farm will be able to supply CO2-free power equivalent to the annual electricity consumption to 285,000 homes.

Upon completion, the project will consist of 77 units of 3.6 MW turbines supplied by Siemens Wind Power.

Dong has also signed a 15 year agreement with the two investors for operations and planned maintenance of the wind farm.

For more renewable energy news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...