DONG Energy signed an agreement to divest 50% of the 330 MW Gode Wind 1 to private equity player Global Infrastructure Partners (GIP) for approximately EUR 780 million.
In addition to the sale price, the agreement calls for GIP to issue a rated project bond to a consortium of German insurance companies. According to DONG Energy, the transaction is subject to customary approvals and is expected by the end of the year.
‘I'm delighted about this partnership, and it is a great pleasure to welcome GIP as a partner of DONG Energy,’ says Samuel Leupold, executive vice president of DONG Energy Wind Power. ‘I am also very excited about the evolution of DONG Energy's market-leading partnership model to facilitate this innovative long-term investment by German institutional investors into the offshore wind sector for the first time.’
Nonetheless, DONG Energy will finalize completion of the project and will continue to provide operation and maintenance services to Gode Wind 1.Â