PensionDanmark is lead investor in the consortium and will acquire a 30 percent stake in the farm, while PKA will acquire a 20 percent stake.
PensionDanmark and PKA will pay the purchase price in four instalments beginning at the end of 2011, with the last instalment due at the end of 2013.
Under the agreement, Dong Energy has committed to constructing the Anholt offshore wind farm at a fixed price and by a fixed date. PensionDanmark and PKA will take over responsibility for operation of the facility on 1 April 2014.
Until that date, production will primarily accrue to DONG Energy.
The transaction is subject to approval by the competition authorities and of the Danish Energy Agency. The DEA must approve the addition of PensionDanmark and PKA as parties to the licensing agreement originally signed between the agency and Dong Energy in 2010. The transaction is expected to be completed in the second quarter of 2011.
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