Dong Energy acquires full ownership of three offshore wind development projects in the Netherlands

Fredericia, Denmark - Dong Energy has acquired the remaining 50% interest in three Dutch offshore wind development projects from its joint venture partner SSE.

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

The purchase price for the remaining 50% interest in the three projects consists of an upfront payment of approximately EUR 2.3 million (approximately DKK 17 million) and additional deferred payments that are subject to the achievement of certain milestones such as a decision to construct the wind farms. The total additional deferred payments amount to up to EUR 12 million (approximately DKK 90 million). The three offshore wind development projects are already fully consented by the Dutch authorities and could potentially be built by the end of this decade.

Source: IWR Online, 23 Dec 2013