DONG Energy A/S has acquired the Swedish project company Storrun Vindkraft AB from the investment company Borevind AB
DONG Energy yesterday signed a share purchase agreement under which DONG Energy will buy 100% of the shares in the project company Storrun Vindkraft AB. The project company holds rights for the construction of a 30 MW wind turbine project in Sweden. The project is located approx. 150 km north-west of Östersund in the Municipality of Krokom in Jämtland.
All official approvals and construction permits for the project are in place, but an optimisation of the project framework is needed before an investment decision can be taken in mid-2007. Commissioning of the project is expected at the end of 2008. The overall capital expenditure will be in the order of DKK 300 million.
The project company's former owner was Borevind AB, a listed investment company within renewable energy. Borevind will retain an option to buy back 20% of the project company. In addition, Borevind will assist DONG Energy in the continued project design work. "DONG Energy looks forward to being engaged in wind power activities in Sweden again, and we are pleased to have Borevind onboard in the continued design work and as co-owner in the longer term. Sweden is part of our strategic focus area, and we take a positive view of the steps taken by the Swedish politicians to make the Swedish certificate market a more long-term market through the introduction of various statutory amendments that will become effective on 1 January 2007," declares Kim Ernst, Vice President, DONG Energy Renewables, Commercial.
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