E.ON will retain a 20% stake and will remain the operator for the remaining lifetime of the wind farm.
Situated in the Baltic Sea between the German island of Fehmarn and the Danish island of Lolland, Rödsand II offshore wind farm produces enough clean, renewable energy for around 200,000 homes.
With the site, SEAS-NVE acquires a highly efficient project in a very attractive market environment.
E.ON chief financial officer Klaus Schäfer said the sale of a majority stake in one of company’s largest offshore wind farms will successfully recycle firm’s capital.
"We are pleased to have entered into an agreement with SEAS-NVE, Denmark’s largest consumer-owned energy company, who have now gained a share of a world-class renewable asset situated in its supply area," Schäfer added.
The final transaction is subject to regulatory approval from the Danish Energy Agency and EU merger control clearance. The deal is expected to close around the end of the year.
