A consortium of Danish pension funds has bought a 50 per cent stake in the Gode Wind 2 offshore wind farm from Dong Energy.
The consortium will pay €600 million for the stake in the 252 MW project, construction of which is due to start in 2015. The deal will enable Dong Energy to free up capital for investment in other offshore wind farms.
The pension funds - PKA, Industriens Pension, Lærernes Pension and Lægernes Pensionskasse - and Dong have agreed that Dong will provide operation and maintenance services to Gode Wind 2 from its O&M base in Norddeich. They have also agreed that Dong will provide a route to market for the power production of Gode Wind 2.
Samuel Leupold, EVP in DONG Energy Wind Power said: "It is integral to Dong Energy's business model that institutional investors consider a partnership with Dong Energy an attractive investment opportunity. By 2020 we want to have tripled our installed capacity of offshore wind compared to the 2.2 GW we have built today.
"Today's agreement enables us to free up capital to continue our investment programme and thereby assists us in reaching this target."
Peter Damgaard Jensen, CEO in PKA, said: "Gode Wind 2 is the fourth offshore wind farm that PKA invests in and the four wind farms will provide power to more than 1.8 million households. PKA will continue investing in such projects, since they are in line with the wish for a sustainable return and our members' demand to make a positive impact on the climate."
Gode Wind 2 is due to be commissioned in 2016.
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