Dong Energy, European energy group, has forged an agreement with Danish energy company SE and the Danish pension fund PFA to offload its onshore wind business for DKK760m (€102m).
The agreement is in line with plans to divest non-core assets of a total value of DKK10bn (€1.3bn) during 2013-2014. With this move the company plans to focus on offshore wind projects.
Dong’s onshore wind unit comprises 272 wind turbines with a total installed capacity of 196MW located at about 80 different sites in Denmark. The unit also includes an under-developed 23MW project.
Commenting on the move, Dong Energy CEO Henrik Poulsen noted: "With the agreement to divest our Danish onshore wind business, we are taking a further step towards the realisation of our strategy and financial action plan."
Dong, from this agreement due to conclude by 2013-end is expected to gross a total pre-tax value of DKK453m (€61m).