Dong to sell stake of Burbo Bank Extension, Citi advises – sources

13 Oct 2015 – Dong Energy is selling 50% of its Burbo Bank Extension offshore wind farm project in the UK with Citigroup advising on the sale, two people familiar with the situation have said.

Danish pension fund PKA is thought to be the preferred bidder for the asset and the deal is expected to be closed by the end of the year, the first person said. The deal is in the advanced stages and the preferred party is negotiating in exclusivity, the second person said.

Dong will retain operatorship of the project, the second person added. 

The Burbo Bank Extension offshore wind farm is located 8km off the coast of Liverpool, UK. With 32 wind turbines of 8 MW each, the offshore wind farm will have a total capacity of 258 MW.

Dong announced in June it had signed a contract with Van Oord for the installation of foundations at the Burbo Bank Extension. The installation works are planned to take place during the summer of 2016.

Dong, PKA and Citi did not respond to a request for comment.

by Katie McQue

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