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DONG dilutes its stake in wind project

DONG dilutes its stake in wind project
DANISH utility group DONG Energy has diluted its holding in the Walney offshore wind farm, by selling 24.8% of the project to a consortium featuring Dutch Ampere Equity Fund and PGGM for £16million.

DANISH utility group DONG Energy has diluted its holding in the Walney offshore wind farm, by selling 24.8% of the project to a consortium featuring Dutch Ampere Equity Fund and PGGM for £16million.

The state-controlled oil & gas group retains a 50.1% stake in the 367 megawatt wind farm, which is under construction in the North Irish Sea, near Barrow-in-Furness.

Anders Eldrup, DONG Energy’s CEO, said: “We see this partnership as yet more evidence of the growing interest among financial investors in investing in the maturing offshore wind industry.”

In addition to buying into the project, the consortium will pay its pro rata share of the construction costs.

However, the purchase price excludes payment for the transmission assets, which are set to be owned by a separate transmission operator, yet to be named by the UK regulator Ofgem.

Scottish & Southern Energy holds the remaining 25.1% in Walney.

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

Meanwhile, Alliance Engineering of Houston has been selected by EPC (engineering, procurement and construction) contractor, Daewoo Shipping and Marine Engineering, (DSME) to provide jacket and topsides engineering and design for Chevron’s South Nemba Auxiliary (SNX) project.

SNX is located in the Nemba field offshore Angola. Infrastructure will comprise an unmanned, four-pile jacket that will be bridge-connected to the SNA platform.

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