New wind energy partnership in Europe

Copenhagen, Denmark — ESI-AFRICA.COM — 21 December 2010 – Danish utility group DONG Energy has agreed to sell a 24.8% stake in the Walney offshore wind farm in Britain to a consortium of Dutch Ampere Equity Fund and PGGM for around US$25 million (R170 million).

The Danish state-controlled oil and gas group retains a 50.1% stake in the 367MW wind farm, which is under construction in the northwest of Britain.

“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 chief executive Anders Eldrup said in a statement.

The consortium will also pay its pro rata share of the construction costs, DONG Energy said.

“The purchase price excludes payment for the transmission assets, which are in the future to be owned by a separate transmission operator to be decided by the UK regulator,” it added.

British utility Scottish & Southern Energy owns the remaining 25.1% in Walney.

The Ampere Equity Fund, managed by Triodos Investment Management, invests in renewable energy projects in Western Europe.