DONG Energy has today signed a GBP 250 million Loan Facility with the European
Investment Bank (EIB), guaranteed by the Danish Export Credit Agency (Eksport
Kredit Fonden, EKF) on the basis of deliveries from Siemens Wind Power and Per
Aarsleff. The loan is part of the financing for the construction of the London
Array offshore wind farm. The financing is in line with DONG Energy's strategy
to diversify its funding on various loan types and to fund projects out of the
The first phase of the London Array wind farm has a capacity of 630 MW and is
expected to begin operation in 2012 and be able to provide renewable energy for
the London Olympics. Once completed it will be the world's largest offshore
wind farm. DONG Energy owns 50% of the farm with E.ON (30%) and Masdar (20%)
holding the remaining shares.
Chief Financial Officer of DONG Energy Carsten Krogsgaard Thomsen said:
"DONG Energy's goal is to reach at least 3,000 MW of wind turbine capacity by
2020, and London Array is a cornerstone in this transition towards a greener
future. The EKF guaranteed EIB funding of the project supports our robustly
financed investment programme".
Simon Brooks, European Investment Bank Vice President responsible for the
United Kingdom said: "The European Investment Bank is pleased to be able to
support DONG Energy's contribution to London Array, expected to be the world's
largest offshore wind farm. This project will make a significant contribution
to meeting both Europe's and the United Kingdom's renewable energy targets."
The content of this announcement does not alter the previously announced
expectations for DONG Energy's financial result for 2010 or the announced
expected level of investments.
For further information, contact:
+45 9955 9560
Morten Hultberg Buchgreitz
+45 9955 9750
DONG Energy is one of the leading energy groups in Northern Europe. We are
headquartered in Denmark. Our business is based on procuring, producing,
distributing and trading in energy and related products in Northern Europe. We
have approximately 6,000 employees and generated just under DKK 50 billion (EUR
6.6 billion) in revenue in 2009. For further information, see