Dong sells stake in Walney wind farm

Two major financial investors have bought a stake in an offshore wind farm being built in the Irish Sea. Danish energy giant Dong has agreed to sell a 24.8% stake […]

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By Kelvin Ross

Two major financial investors have bought a stake in an offshore wind farm being built in the Irish Sea.

Danish energy giant Dong has agreed to sell a 24.8% stake in the Walney offshore wind farm to the consortium for around £16m.

Dong will still own half of the project, with Scottish & Southern Energy holding 25.1%. The new consortium – of Dutch Ampere Equity Fund and Netherlands’ pensions administrator and asset manager PGGM – now own the remainder.

The price of the stake sale excludes payment for transmission assets, which are in the future to be owned by a separate transmission operator to be decided by Ofgem.

Dong Energy chief executive Anders Eldrup said: “We are very pleased by the creation of this new partnership with established and well-recognised international financial investors.

“We see this partnership as yet another evidence of the growing interest among financial investors in investing in the maturing offshore wind industry.”

DONG Energy will be the leading partner in the remaining construction works to be carried out at Walney wind farm, which is off Cumbria.

Excluding connection to the grid, the cost of constructing Walney is expected to total around £1bn.