Ørsted (früher bekannt als DONG Energy) hat eine Vereinbarung zur Veräußerung von 50% seines britischen Offshore-Windbauprojekts Walney Extension mit einem Volumen von 659 Megawatt (MW) an ein Konsortium bestehend aus PKA und PFA, zwei führenden dänischen Pensionsfonds, unterzeichnet.

(WK-intern) – Jeder Investor erhält eine 25% ige Beteiligung an dem Projekt.

Der Gesamtverkaufspreis – bestehend aus dem Kaufpreis für PKA und PFA für den Erwerb von 50% des Projekts und deren Verpflichtung zur Finanzierung von 50% der Zahlungen im Rahmen eines EPC-Vollvertrages mit Ørsted.

PKA and PFA acquire a 50 % stake in Ørsted’s offshore wind farm project Walney Extension

Ørsted (formerly known as DONG Energy) has signed an agreement to divest 50% of its 659 megawatt (MW) UK offshore wind construction project, Walney Extension, to a consortium consisting of PKA and PFA, two leading Danish pension funds. Each investor will obtain a 25% ownership interest in the project. The total sales price – consisting of the purchase price for PKA and PFA for their acquisition of 50% of the project and their commitment to fund 50% of the payments under a full scope EPC contract with Ørsted – amounts to approx. GBP 2bn which will be paid during 2017 and 2018.

As a part of the transaction, PKA and PFA is expected to issue rated project bonds to a consortium consisting of blue chip institutions, many of which manage UK pension and insurance fund capital, including Aviva Investors, BlackRock Investment Management (UK) Limited, Legal & General Investment Management Real Assets and Macquarie Infrastructure Debt Investment Solutions. One of the tranches of the bond is guaranteed by EKF Denmark’s Export Credit Agency. This will be the first issuance of a non-recourse, investment grade, certified green bond for utilisation of financing an offshore wind farm asset under construction in the UK. The development of the rated bond structure that facilitates the provision of institutional debt to the project was led by Ørsted and implemented with the strong support from PKA and PFA.

The transaction is subject to approval by the relevant competition authorities and is expected to be completed in the fourth quarter of 2017.

Henrik Poulsen, CEO of Ørsted, says: „We’re delighted to welcome two Danish pension funds as co-owners of Walney Extension. We already have a strong partnership with PKA on three other offshore wind farms, and we look forward to building an equally long-lasting relationship with PFA on what will be the world’s biggest wind farm when completed. Both partners are committed to the green energy transition, and I’m pleased that our offshore wind assets continue to be attractive to institutional investors.“

Allan Polack, Group CEO, PFA, says: „With this investment, we take yet another step into the renewable energy market which is actively contributing towards the green transition. We are proud to do so together with our business partner Ørsted, which is a front runner in this field and which has accumulated great expertise when it comes to establishing efficient offshore wind farms. The investment fits perfectly into our strategic work with focus on alternative investments that contribute to providing our customers with reliable and stable long-term returns.“

Peter Damgaard Jensen, CEO, PKA, says: „This is the sixth offshore wind farm PKA invest in since 2011. We focus on this type of investments because we continue to see interesting opportunities in combining good returns to our members and at the same time supporting mitigation of climate changes. Investment in offshore windfarms has so far made two-digit returns and we are pleased to see this investment underlining our climate strategy. For us it is good business and common sense.“

Facts about Walney Extension

The offshore wind farm will have a total capacity of 659MW – enough to power more than 500,000 UK homes.
The offshore wind farm will consist of a total of 87 wind turbines with performance enhancing features: 40 MHI Vestas V164-8.0MW turbines and 47 Siemens Gamesa SWT-7.0 MW-154 turbines.
The wind farm will be located in the Irish Sea approximately 19km from the Walney Island coast in Cumbria and cover an area of 145km2
Walney Extension is expected to be fully commissioned in second half of 2018.

PM: Ørsted  

Pressebild: Photo (click to download) of the first turbine at the Walney Extension offshore wind farm, which is under construction and expected to be fully commissioned in second half of 2018.