DONG Energy buys A2SEA for the price of approximately DKK 700 million from Dansk Kapitalanlæg, Lønmodtagernes Dyrtidsfond and Clipper Projects, and a series of minor shareholders. A2SEA is a market leading supplier of installation vessels for the construction of offshore wind farms. DONG Energy has been using A2SEA's vessels for a series of offshore projects, and presently a vessel is engaged in the construction of the Horns Rev 2 wind farm in the North Sea. The purchase of A2SEA and its vessels provides DONG Energy with increased flexibility by owning its own vessels and ensures in-house knowledge and competence. Furthermore, it facilitates faster completion and commissioning of wind farms. ”The purchase of A2SEA enables DONG Energy to make the installation of offshore wind turbines even more efficient, and this will help us realise DONG Energy's strategy for increasing the volume of power produced from renewable energy sources,” says DONG Energy's CEO, Anders Eldrup. In March 2009, DONG Energy signed a contract with Siemens for the purchase of up till 500 wind turbines. The agreement was the first step in DONG Energy's efforts to industrialise the market for offshore wind projects. The purchase of A2SEA represents the next important step in this. DONG Energy is about to complete the building of Horns Rev 2 (209 MW) and Gunfleet Sands I+II (172 MW). In coming years DONG Energy will build the Walney I+II (367 MW) offshore wind farms. Furthermore, DONG Energy plans to build the world's largest offshore wind park; London Array I (630 MW), together with E.ON and Masdar. In addition, DONG Energy has a considerable number of wind projects on the drawing board. A2SEA is headquartered in Fredericia, employs about 200 people and owns four vessels. The content of this release does not affect the expected financial results of the 2009 accounting year or the expected level of investment previously announced. For further information, contact: DONG Energy Investor Relations Morten Hultberg Buchgreitz +45 9955 9750 DONG Energy Media Relations Andreas Krog +45 9955 2023 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 5,500 employees and generated more than DKK 60 billion (approx. EUR 8.2 billion) in revenue in 2008. For further information, see www.dongenergy.com.
DONG Energy buys A2SEA