05 Mar '12, 11am

DONG sells 50% of German offshore wind farm: DONG Energy is selling 50% of the Borkum Riffgrund 1 offshore wind

When completed Borkum Riffgrund 1 will consist of 77 3.6 MW offshore wind turbines from Siemens . Construction is expected to commence in 2013, and first power is expected to be generated in 2014. KIRKBI participates in the buying consortium with an investment of DKK3bn, giving it an ownership interest of 32% in the offshore wind farm. The Oticon Foundation will invest DKK1.7bn, giving it an ownership interest of 18%. ”The agreement is a major step forward for DONG Energy's partnership model for financing offshore wind farms. The market for offshore wind has seen strong growth in recent years because a number of countries wish to switch to green energy. This has led to a great need for external capital, and I am therefore pleased that we are also able to attract capital from privately owned companies and industry,” says Anders Eldrup, CEO of DONG Energy . DONG Energy will ...

Full article: http://www.renewableenergyfocus.com/view/24298/dong-sells...

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