PensionDanmark becoming partner in Nysted offshore wind farm

DONG Energy A/S / Miscellaneous

09.09.2010 09:35

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DONG Energy and PensionDanmark have signed an agreement, under which
PensionDanmark will buy 30% of the Nysted offshore wind farm at a cash
consideration of DKK 0.4 billion. At the same time, DONG Energy will buy E.ON's
20% ownership interest and resell it to PensionDanmark at a price of DKK 0.3
billion. Consequently, DONG Energy and PensionDanmark will each own 50% of the
Nysted offshore wind farm, and DONG Energy will continue to be responsible for
the operation of the farm. 

'We are very pleased that PensionDanmark has wanted to invest in renewable
energy production, and we hope that this agreement can pave the way for similar
pension fund investments. We also see it as recognition of DONG Energy's unique
expertise in operating offshore wind farms,' says Anders Eldrup, Chief
Executive Officer at DONG Energy. 

'PensionDanmark is the first pension fund that enters into a direct agreement
with a major Danish industrial partner within this area. We believe that the
model chosen can serve as a breakthrough for the investment of pension fund
assets on a large scale in green technology and other infrastructure in
Denmark,' says Torben Moger Pedersen, CEO at PensionDanmark. 

The Nysted offshore wind farm located south of the island of Lolland has a
capacity of 165.6 MW. Since being commissioned in 2003, it has delivered around
570 GWh of renewable energy annually, which corresponds to the annual power
consumption of about 140,000 Danish households. 

Under the agreement, DONG Energy will provide an operating guarantee to
PensionDanmark, and in return DONG Energy receives a larger share of the
operating profit if the power price increases over the current power price
level. 
The transaction is subject to approval by the competition authorities. 

The information provided in this announcement will not change DONG Energy's
previously announced financial guidance for the financial year 2010 or the
expected investment level. 

For additional information, please contact:

Media Relations
Andreas Krog	
+45 9955 2023

Investor Relations
Morten Hultberg Buchgreitz
+45 9955 9750


Pictures of the wind farm are free of use for the press and can be downloaded
at: http://www.dongenergy.com/Nysted/EN/About_us/Photos/Pages/Photos.aspx 



DONG Energy is one of the leading energy groups in Northern Europe. We are
headquartered in Denmark. Our business is based on procuring, producing,
distributing and trading in energy and related products in Northern Europe. We
have approximately 6,000 employees and generated just under DKK 50 billion (EUR
6.6 billion) in revenue in 2009. For further information, see
www.dongenergy.com. 

News Source: NASDAQ OMX



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Language:           English
Company:            DONG Energy A/S
                    
                     
                    DK
Phone:              
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Internet:           
ISIN:               XS0253170335
Category Code:      MSC
LSE Ticker:         65XG
Sequence Number:    569
Time of Receipt:    Sep 09, 2010 09:35:23
 
End of Announcement                             DGAP News-Service
 
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