UK: Agreement on the sale of transmission assets at Westermost Rough

TC Westermost Rough OFTO Limited is the licensee entity incorporated by the consortium comprised of Transmission Capital Partners Limited Partnership and International Public Partnerships Limited.

The transmission assets hold an asset value of GBP 157 million (DKK 1,5 bn). The assets include the onshore substation, export cables and the offshore substation. The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime.

Following a competitive tender, TC Westermost Rough OFTO Limited was selected in May 2015 by Ofgem, the regulator for gas and electricity markets, as preferred bidder for the WMR offshore transmission license.

The Westermost Rough offshore wind farm is located in the UK North Sea, approximately 8km off the East coast of Yorkshire near Withernsea, Yorkshire. The offshore construction began in 2014. In August 2014, the first turbine was erected and first power was generated in September 2014. Full power output was achieved in May 2015. The farm’s 35 Siemens 6MW wind turbines have a capacity of 210MW and ensure clean renewable energy for more than 150,000 UK households.

The information provided in this announcement does not change DONG Energy’s previous financial guidance for the 2016 financial year.