DONG Energy buys SSE’s offshore wind stakes

Posted on 22 December 2013 by Priyanka Shrestha

DONG Energy has taken full control of three offshore wind projects in Denmark after buying the remaining 50% stakes from joint venture partner SSE.

The Den Helder 1, Breeveertien II and West-Rijn projects have a total capacity of up to 1,050MW and are located in the North Sea off the cost of the Netherlands.

The Danish firm said it paid €2.3 million (£1.9m) for the 50% it didn’t already own and will be followed by up to €12 million (£10m) “subject to the achievement of certain milestones such as a decision to construct the wind farms”.

The announcement comes a week after the company agreed to buy a wind project from British gas owner Centrica.

Samuel Leupold, Executive Vice President in DONG Energy Wind Power said: “The three development projects could potentially be built with next-generation technology and contribute to the further development of the supply chain in the Netherlands… However, it is vital that there is full visibility about the investment conditions in due course if we are to subsequently make a final investment decision to build the projects as part of our 2020 strategy.”

DONG Energy, which has a target to construct 6.5GW by the end of 2020, said the projects could potentially be built by then.

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Article source: http://www.energylivenews.com/2013/12/22/dong-energy-buys-sse%E2%80%99s-offshore-wind-stakes/