Disposal of the transmission assets at the offshore wind farm Walney 2
Walney (UK) Offshore Windfarms Limited announced today that it has completed the sale of transmission assets at the offshore wind farm Walney 2 to Blue Transmission Walney 2 Limited, which is the licensee entity incorporated by the consortium of Macquarie Capital Group Limited (Macquarie Capital) and Barclays Infrastructure Funds Management Limited, for approx. GBP 110 million (approx. DKK 1,045 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 (UK) Offshore 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 2 Limited.
DONG Energy and Blue Transmission Walney 2 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 2012 financial year or the announced expected investment level.
For additional information, please contact:
Rune Birk Nielsen
+45 9955 6543
Morten Hultberg Buchgreitz
+45 9955 9750
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 6,400 employees and generated DKK 57 billion (EUR 7.6 billion) in revenue in 2011. For further information, see www.dongenergy.com.
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 a leading Dutch pension fund service provider offering pension management, integrated asset management, management support and policy advice to its institutional clients. PGGM currently works on behalf of six pension funds, managing about €125 billion of pension assets of 2.5 million people. As a cooperative organisation, PGGM helps its over 570,000 members to secure a valuable future. PGGM works independently or with strategic partners to develop innovative future benefit solutions combining pensions, care, accommodation and employment. For further information, see www.pggm.nl
Ampere Equity Fund, managed by Triodos Investment Management, invests exclusively in renewable energy projects. The Fund has attracted major Dutch institutional investors with a total committed capital of EUR 320 million. The full capital of the fund has been invested in a diversified portfolio of utility scale wind and solar projects in Western Europe. The Fund has a long term hold strategy to deliver optimized long term cash yield and stable value development for its investors. Triodos Investment Management is a subsidiary of Triodos Bank with over 25 years’ experience in renewable energy investments.