DONG Energy has sold its 50 per cent stake in Nordkraft Vind to Nordkraft Produksjon for NOK 145 million (DKK 138 million). The size of DONG Energy's portfolio of wind projects in Norway is found no longer to warrant a continued strategic focus on expansion of the Norwegian market.

Nordkraft Vind operates the Nygårdsfjellet 1 onshore wind farm (6.9 MW) and is constructing Nygårdsfjellet 2 (25.3 MW). Both farms are situated in Northern Norway. DONG Energy will contribute technical support for the completion of the expansion of Nygårdsfjellet 2.

In July 2011, DONG Energy decided to pull out of the Norwegian Midtfjellet wind project. In Norway, DONG Energy still has ownership interests in Kvalheim Kraft (the Mehuken I and II wind farms) and the wind development company Zephyr. In June 2010, DONG Energy sold its 33.33 per cent ownership interest in Nordkraft to a company in the Troms Kraft Group.

The information provided in this announcement does not change DONG Energy’s previous financial guidance for the 2011 financial year or the announced expected investment level.

Tags: DONG Energy