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Denmark

Denmark

Danish Energy Agency approves Dong's Anholt deal

DENMARK: The Danish Energy Agency has approved the acquisition by pension firms PKA and PensionDanmark of a 50% stake in the 400MW Anholt offshore wind farm.

Dong Energy signed the DKK 6 billion (€804 million) deal with two pension funds in March. PensionDanmark and PKA are acquiring 30% and 20% shares respectively.

Dong has a deal to complete the Anholt project by 1 April 2014, although is set to begin producing electricity in mid-2013.

On 1 April, responsibility for 50% of the operation of the project will be handed to the two pension funds. In addition to receiving 50% of the revenue the two companies will be liable for 50% of the costs past this date.

The transaction is expected to go through by the end of the year.

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