The consortium of Danish pension funds, which comprises PKA, Industriens Pension, Lærernes Pension and Lægernes Pensionskasse, will pay the total sales price in the period from 2014 to 2016.
Upon completion of transaction, PKA own 24.75% of Gode Wind 2, while the remaining will be held by Industriens Pension (10.5%), Lærernes Pension (8.75%) and Lægernes Pensionskasse (6%).
With construction expected to commence in 2015, the Gode Wind 2 will be commissioned in 2016 along with the neighboring wind farm Gode Wind 1.
In addition to providing a route to market for the power production of Gode Wind 2, DONG Energy will provide operation and maintenance services to the wind farm from its O&M base in Norddeich.
DONG Energy Wind Power executive vice president Samuel Leupold said, "By 2020 we want to have tripled our installed capacity of offshore wind compared to the 2.2 GW we have built today."
"Today’s agreement enables us to free up capital to continue our investment programme and thereby assists us in reaching this target."
PKA CEO Peter Damgaard Jensen said: "Gode Wind 2 is the fourth offshore wind farm that PKA invests in and the four wind farms will provide power to more than 1.8 million households."
The transaction, which is subject to approval by the competition authorities, is due to be completed in the second half of 2014.
Image: DONG Energy divests 50% of German offshore wind farm project. Photo: courtesy of xedos4 / Freedigitalphotos.net.
