DONG Energy has signed and completed an agreement to divest 50% of the 258MW UK offshore wind farm project Burbo Bank Extension to Danish pension provider PKA and KIRKBI A/S, parent company of the LEGO Group.
Each investor will obtain a 25% ownership interest in the project. Burbo Bank Extension will be constructed by DONG Energy with offshore construction works commencing in the spring 2016. The project is expected to be fully commissioned in the first half of 2017. The total purchase price for the investors amounts to approximately GPB 660 million (DKK 6.6 billion) to be paid in the period 2016-2017. Burbo Bank Extension will consist of 32 MHI Vestas 8.0 MW turbines. DONG Energy will provide operation and maintenance services to Burbo Bank Extension under a long-term O&M agreement. Furthermore, DONG Energy will be responsible for the sale and delivery to the market of the part of the production that is generated by PKA and KIRKBI A/S’s 50% ownership share.
