DONG Energy today signed an agreement with two Polish utilities, PGE and
Energa, under which PGE and Energa will acquire DONG Energy’s Polish onshore
wind business. PGE and Energa will each acquire separate parts of the
The aggregate selling price (enterprise value) for the wind-business is
approximately PLN 1.0 billion (equivalent to approximately DKK 1.8 billion).
Completion of the transaction is subject to approval by the relevant
DONG Energy's Polish onshore wind business has a leading position in
development and operation of onshore wind energy in Poland. The business
operates three wind farms with a total installed capacity of 111.5 MW and has a
development portfolio of more than 700 MW. The business includes a Polish
organisation of approximately 40 employees, who will be employed by PGE and
Energa going forward.
“The divestment is a step towards realising DONG Energy's previously announced
plan to divest assets with an aggregate value of DKK 10 billion during 2013 and
2014. We will thereby release capital to support our investments in, for
example, offshore wind, where DONG Energy has a strong market position,” says
Henrik Poulsen, CEO of DONG Energy.
Henrik Poulsen stresses that the investment in Polish onshore wind has been a
sound investment for DONG Energy, but that the company within wind power will
focus on development, construction and operation of offshore wind farms in
The transaction is expected to be completed later in 2013 after competition
authority approvals have been obtained.
The transaction is expected to result in a net gain before tax of up to DKK 600
million. The net gain will not affect EBITDA.
For additional information, please contact:
Rune Birk Nielsen
+45 9955 6543
Allan Bødskov Andersen
+45 9955 9769
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 7,000 employees and generated DKK 57 billion (EUR 7.6
billion) in revenue in 2011. For further information, see www.dongenergy.com.
DONG Energy to divest its Polish onshore wind business to PGE and Energa.pdf
DONG Energy is one of the leading energy groups in Northern Europe. Our business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe.