DONG Energy has acquired a 100% ownership interest in the UK offshore wind development project Race Bank, from Centrica.
The project has a total consented capacity of up to 580MW and is located in the Greater Wash area approximately 27 km off the east coast of England. The purchase price (enterprise value) for the project is GBP 50 million (approximately DKK 450 million). The Race Bank project has received all major consents from UK authorities for the construction and operation of the wind farm. Extensive geotechnical and geophysical investigations of the site have already been carried out. The consents enable offshore construction to commence from 2017. A decision to actually build the project is still pending and depends on a continued successful development of the farm under DONG Energy’s ownership.