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Danish company buys windfarm stake

Danish state-owned DONG Energy has bought a 33.3 per cent stake in two UK offshore wind projects

Danish state-owned DONG Energy has bought a 33.3 per cent stake in two UK offshore wind projects from a joint venture of Mainstream Renewable Power and a subsidiary of Germany’s Siemens , it said on Friday.

DONG Energy, a leading developer of offshore wind parks, said in a statement it paid 15 million pounds (£14m) for the stake in the Heron Wind Ltd and Njord Ltd offshore wind projects, with a potential total capacity of up to 1 gigawatt.

The projects are in the Horsea zone, an area between 34 km and 190 km off the Yorkshire coast, DONG Energy said.

It bought the stake from SMart Wind, a 50/50 joint venture between wind energy developer Mainstream Renewable Power and Siemens’ Financial Services unit, represented by Siemens Project Ventures GmbH, DONG Energy said.

The deal included an option to buy the remaining 66.7 percent of the shares at a fixed market price, DONG said.

“Hornsea is an attractive zone and the agreement with SMart Wind provides DONG Energy access to development projects, which fits well into our midterm project pipeline,” DONG’s chief executive Anders Eldrup said in the statement.