Agreement on the sale of transmission assets at Westermost Rough
Transmission assets to be sold to TC Westermost Rough OFTO Limited.
Westermost Rough Ltd (“WMR”), a wholly owned subsidiary of DONG Energy A/S (50%), the UK Green Investment Bank plc (25%) and Marubeni Corporation (25%) today announced that it has signed an agreement for the sale of its transmission assets to TC Westermost Rough OFTO Limited.
TC Westermost Rough OFTO Limited is the licensee entity incorporated by the consortium comprised of Transmission Capital Partners Limited Partnership and International Public Partnerships Limited.
The transmission assets hold an asset value of GBP 157 million (DKK 1,5 bn). The assets include the onshore substation, export cables and the offshore substation
The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime.
Following a competitive tender, TC Westermost Rough OFTO Limited was selected in May 2015 by Ofgem, the regulator for gas and electricity markets, as preferred bidder for the WMR offshore transmission license.
The Westermost Rough offshore wind farm is located in the UK North Sea, approximately 8km off the East coast of Yorkshire near Withernsea, Yorkshire. The offshore construction began in 2014. In August 2014, the first turbine was erected and first power was generated in September 2014. Full power output was achieved in May 2015. The farm’s 35 Siemens 6MW wind turbines have a capacity of 210MW and ensure clean renewable energy for more than 150,000 UK households.
The information provided in this announcement does not change DONG Energy’s previous financial guidance for the 2016 financial year.
For additional information, please contact:
+45 9955 9100
Allan Bødskov Andersen
+45 9955 9769
DONG Energy is one of the leading energy groups in Northern Europe, headquartered in Denmark. Around 6,700 ambitious employees are engaged in developing, constructing and operating offshore wind farms; generating power and heat from our power stations; providing energy to residential and business customers on a daily basis; and producing oil and gas. Group revenue was DKK 71bn (EUR 9.5bn) in 2015. For further information, see www.dongenergy.com