ANNUAL REPORT 2011 - DONG Energy

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