DONG Energy has signed an agreement to divest 50 per cent of the 330MW German offshore wind construction project, Gode Wind 1, to Global Infrastructure Partners (GIP). The total sales price amounts to approximately € 780 million which will be paid in the period 2015 to 2016.
The transaction is subject to approval by the competition authorities and is expected to be completed in the second half of 2015. The parties have agreed that DONG Energy will finalise the construction of the Gode Wind 1 offshore wind farm project, and will provide operation and maintenance services to Gode Wind 1 from its O&M base in Norddeich in Germany. Furthermore, the parties have agreed that DONG Energy will provide a route to market for the power production from Gode Wind 1. Earlier this year, DONG Energy started the offshore construction works for the Gode Wind 1 offshore wind farm. The 330MW wind farm will consist of 55 turbines from Siemens is expected to be fully commissioned in 2016.