Dong 'to sell 25% of London Array to Caisse'

A London Array turbine

A London Array turbine

Dong is close to selling half its 50% stake in the London Array offshore wind farm to the public pension fund Caisse de dépôt et placement du Québec, in a deal with broader implications for the offshore market.

The Caisse is contemplating sinking £500m ($788.6m) into the 630MW London Array, thereby reducing Dong’s stake to 25%, according to the Financial Times. E.ON and Masdar own the remaining 50% of the project.

A Dong spokesman declined to comment, repeating only that Dong’s offshore wind strategy includes the possibility of selling up to 50% stakes in projects – as it has done with Anholt, Gunfleet Sands, Walney and Borkum Riffgrund 1.

However, the timing of the report is interesting, coming less than two weeks after Dong announced its final investment decision Log in to read complete article.

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