This is worth noting given how the wind industry and their sock puppets at the so called and on-the-take environmental groups in Maine like to cite Denmark as a shining role model of wind power. DONG is 76% owned by the Danish government. ""Every time we were building onshore, the public reacts in a negative way and we had a lot of criticism from neighbours," said a spokesman for the company. "Now we are putting all our efforts into offshore windfarms."
DONG Energy today signed an agreement with the Danish energy company SE and the
Danish pension fund PFA under which SE and PFA will acquire DONG Energy’s
Danish onshore wind business.
The aggregate sales price (enterprise value) for the onshore wind business is
DKK 760 million (equivalent to approx. EUR 102 million). The divestment
concerns a total of 272 wind turbines with a total installed capacity of 196
megawatt. The turbines are located at approx. 80 different sites in Denmark
with an average operational track record of 16 years. The divestment includes
an early stage development project totalling up to 23 megawatt. The business
includes a Danish organisation consisting of approximately 18 employees, who
will be employed by the purchasing company going forward.
With the publication of its new strategy and financial action plan on 27
February 2013, DONG Energy announced its intention to divest non-core assets of
a value of DKK 10 billion in 2013-2014 and that its Wind Power business will
be focusing on offshore wind in the future.
“With the agreement to divest our Danish onshore wind business, we are taking a
further step towards the realisation of our strategy and financial action plan.
Going forward our competences and capital will be deployed in offshore wind
where we have a strong and differentiated competitive platform,” said Henrik
Poulsen, CEO of DONG Energy.
The transaction is expected to be completed later in 2013 following approval by
the Danish competition authorities. The transaction is expected to result in a
gain before tax of up to DKK 453 million (equivalent to approx. EUR 61
The information provided in this announcement does not change DONG Energy’s
previous financial guidance for the 2013 financial year or the announced
expected investment level for 2013-2014.
For additional information, please contact:
Rune Birk Nielsen
+45 9955 6543
Allan Bødskov Andersen
+45 9955 9769
DONG Energy is one of the leading energy groups in Northern Europe. Our
business is based on procuring, producing, distributing and trading in energy
and related products in Northern Europe. DONG Energy has nearly 7,000 employees
and is headquartered in Denmark. The Group generated DKK 67 billion (EUR 9.0
billion) in revenue in 2012. For further information, see www.dongenergy.com