Dong Energy to dispose of 196-MW of onshore wind assets

Jun 25, 2013 - Danish state-owned utility Dong Energy A/S said Tuesday it would sell its entire onshore wind business at home, comprising 196 MW of wind turbines, as it wants to pay more attention to its offshore operations.

The company has reached a deal to sell total of 272 wind turbines at around 80 different sites in Denmark to local energy firm SE and pension fund PFA for an aggregate sales price of DKK 760 million (USD 134m/EUR 102m). The transaction will also involve the sale of an early-stage, 23-MW project and the transfer of 18 employees.

The divestment is part of the company’s plan to shed non-core assets worth DKK 10 billion in 2013/14. Completion of the latest sale is scheduled for later this year, once the Danish competition authorities give their permission.

The disposal is estimated to result in a pre-tax gain of up to DKK 453 million for Dong Energy. It will not affect the company’s previously announced financial projections for fiscal 2013, it noted.

(DKK 1.0 = USD 0.176/EUR 0.134)

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