Dong Energy Buys Remaining Share in Three Wind Farms From SSE

Dec 20, 2013 6:31 am ET

Dec. 20 (Bloomberg) -- Dong Energy A/S, the world’s biggest offshore-wind developer, acquired the rights for three yet-to- be-built wind farms in Dutch waters from SSE Plc.

Dong Energy bought the remaining half of the projects it doesn’t already own for an initial 2.3 million euros ($3.1 million), the Fredericia, Denmark-based developer said today in an e-mailed statement. It will pay about another 12 million euros subject to certain milestones being met, it said.

“The Dutch offshore wind market has great potential and with these three development projects, Dong Energy is looking forward to contributing to the achievement of the announced Dutch target of 4,450 megawatts of offshore wind installed and operational by 2023,” said Samuel Leupold, executive vice president in Dong Energy Wind Power.

The projects in the North Sea are fully consented and when built they will have a capacity of as much as 1,050 megawatts. They may be completed by the end of the decade, the statement said. Dong this month bought Centrica Plc’s Race Bank project off eastern England for 50 million pounds as part of its plans to install as much as 6,500 megawatts of turbines at sea by 2020.

--Editors: Reed Landberg, Randall Hackley