Walney Windfarms Limited today announced that it has completed the sale of transmission assets at the offshore wind farm Walney 1 to Blue Transmission Walney 1 Limited, which is the licensee entity incorporated by the consortium of Macquarie Capital Group Limited and Barclays Integrated Infrastructure Fund, for approx. GBP 105 million.
DONG Energy (50.1%), SSE (Scottish and Southern Energy) (25.1%) and OPW (24.8%), a company jointly owned by Dutch pension administrator PGGM and Ampère Equity Fund (managed by Triodos Investment Management), are the companies behind Walney Windfarms Limited, with DONG Energy as the leading partner in the construction and operational phases of the Walney Offshore Windfarms.
The financial closure of the transaction has been completed and the assets will be transferred in the coming days to Blue Transmission Walney 1 Limited.
DONG Energy and Blue Transmission Walney 1 Limited have agreed upon an operation and maintenance contract for the transmission assets.
The disposal is in line with regulation requiring offshore wind farm generators to divest their transmission assets to new offshore transmission owners via a competitive tender run by Ofgem.
The information provided in this announcement does not change DONG Energy's previous financial guidance for the 2011 financial year or the announced expected investment level.
For additional information, please contact:
+45 9955 2023
Morten Hultberg Buchgreitz
+45 9955 9750
About DONG Energy:
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 DKK 55 billion (EUR 7.3 billion) in revenue in 2010. For further information, see www.dongenergy.com.
DONG Energy is strongly involved in the production and expansion of renewable energy in the UK. The company currently operates the offshore wind farms Gunfleet Sands (172 MW), Burbo Bank (90 MW), Barrows (90 MW) and Walney 1 (184 MW). In addition, DONG Energy is involved in building four new major UK offshore wind farms, including what will be the world's largest offshore wind farm London Array (630 MW), due to enter into operation in 2012.
SSE (Scottish and Southern Energy) is one of the UK’s leading energy companies, involved in the generation, distribution and supply of electricity and in the extraction, storage, distribution and supply of gas. Its core purpose is to provide the energy people need in a reliable and sustainable way. It supplies energy to 10 million customers throughout the country, is independently-recognised as the best energy supplier for customer service and is the UK’s leading generator of electricity from renewable sources.
For further information, see www.sse.com
PGGM is the administrative organisation for collective pension schemes, principally in the care and welfare sector. It is also an income provider for people in the care and welfare sector. PGGM currently manages around EUR 100 billion of pension assets of over 2.3 million participants.
Ampère Equity Fund, managed by Triodos Investment Management, invests in renewable energy projects in Western Europe. It invests with amounts in the range of EUR 10 million to EUR 50 million equity per investment. The fund focuses on investments in energy producing assets applying proven technology. such as onshore wind, offshore wind, solar PV, concentrated solar power and biomass power plants that provide stable and predictable long term returns for its investors. The Fund has attracted major Dutch institutional investors with a total committed capital of EUR 320 million which provides certainty of funding for its investment strategy until the end of 2011. Triodos Investment Management is a subsidiary of Triodos Bank with over 25 years’ experience in renewable energy investments.