ANNUAL REPORT 2011 - DONG Energy
ANNUAL REPORT 2011 - DONG Energy
ANNUAL REPORT 2011 - DONG Energy
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Q3<br />
17 August<br />
signing of Eur 1.3 billion credit facility<br />
<strong>DONG</strong> <strong>Energy</strong> has signed a EUR 1.3 billion 5-year revolving<br />
credit facility which includes two 1 year extension options.<br />
26 August<br />
DOnG <strong>Energy</strong> co-founder of bioenergy consortium<br />
in måbjerg<br />
Together with local players, <strong>DONG</strong> <strong>Energy</strong> established a<br />
green energy consortium, Måbjerg <strong>Energy</strong> Concept. Over<br />
15 months, the consortium will determine whether a number<br />
of bioenergy projects are feasible and will be profitable.<br />
31 August<br />
acquisition of noreco’s interest in the siri field<br />
<strong>DONG</strong> <strong>Energy</strong> made an agreement to acquire Noreco’s<br />
interest in the Siri field in the Danish North Sea for DKK 70<br />
million. The transaction was completed at the end of <strong>2011</strong><br />
and <strong>DONG</strong> <strong>Energy</strong> is now the sole owner of the field.<br />
01 September<br />
marubeni Corporation co-owner of Gunfleet sands<br />
offshore wind farm<br />
Marubeni Corporation has entered into an agreement<br />
with <strong>DONG</strong> <strong>Energy</strong> whereby Marubeni acquires a 49.9%<br />
stake in the 172 MW Gunfleet Sands offshore wind farm.<br />
Marubeni paid a cash consideration of approximately<br />
GBP 210 million for the stake.<br />
Q4<br />
18 October<br />
acquisition of uK shell Gas Direct<br />
<strong>DONG</strong> <strong>Energy</strong> and Shell UK signed an agreement for<br />
<strong>DONG</strong> <strong>Energy</strong> to acquire the gas sales company Shell<br />
Gas Direct for GBP 30 million. The transaction has subsequently<br />
been approved by the EU competition authorities.<br />
27 October<br />
vestas and DOnG <strong>Energy</strong> enter into agreement on<br />
testing of new 7 mw offshore wind turbine<br />
Vestas and <strong>DONG</strong> <strong>Energy</strong> have entered into cooperation on<br />
testing of Vestas’ new V164-7.0 MW offshore wind turbine at<br />
<strong>DONG</strong> <strong>Energy</strong>’s demonstration site in the waters off Frederikshavn.<br />
<strong>DONG</strong> <strong>Energy</strong>’s total investment in the establishment<br />
of the test site will amount to around DKK 240 million.<br />
04 November<br />
acquisition of rights to further develop<br />
Borkum riffgrund west 1<br />
<strong>DONG</strong> <strong>Energy</strong> acquired the rights to further develop the<br />
offshore wind project Borkum Riffgrund West 1 from Energie-kontor<br />
AG for approximately EUR 30 million.<br />
16 December<br />
acquisition of stake in the first two projects in smart<br />
winds Hornsea zone<br />
<strong>DONG</strong> <strong>Energy</strong> acquired a 33.3% stake in the first two offshore<br />
wind farm projects in the Hornsea Zone from SMart<br />
Wind. The purchase price is approximately GBP 15 million<br />
with an option to acquire the remaining 66.7% of the<br />
shares at a fixed market price. <strong>DONG</strong> <strong>Energy</strong> also acquired<br />
an option over an additional 1 GW from the Hornsea Zone.<br />
<strong>DONG</strong> ENERGY <strong>DONG</strong> ENERGY GROUP <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2011</strong> – manaGEmEnt’s rEviEw 3