Canadian pension fund in talks with Dong

Sale of 25% London Array stake reportedly under discussion

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A quarter stake in the world’s largest offshore wind farm to date, the 630MW London Array project, may be acquired by a public sector pension fund owned by the Canadian province of Québec, reports the Financial Times.

Half of London Array is currently owned by Danish energy firm, Dong Energy, which is said to be in talks with Caisse de Dépôt et Placement du Québec (CDPQ) about a sale.

Dong has declined to comment on the FT report, however, it stated clearly last autumn that it would seek to reduce its equity in some offshore wind projects as part of a programme of debt reduction.

The Danish developer has successfully reduced its holdings in offshore wind projects while continuing to be involved in construction, and in selling stakes to public sector pension funds. Its partners in the 400MW Anholt wind farm, currently under construction, are two Danish pension funds.

First power was achieved by London Array last autumn, with full commissioning expected around the middle of this year.


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