DONG Energy And Siemens Project Ventures To Acquire 50% Stake In Lincs Offshore Wind Project From Centrica

DONG Energy A/S, a renewable energy company and Siemens Project Ventures GmbH, announced to acquire 50% stake in Lincs Offshore wind project from Centrica plc, a supplier of energy and related solutions, through an equally owned company. The UK is an attractive destination for investments in offshore wind projects with a large coast line and potential off the coast. Further, the supportive UK policies help in easier development of the projects. At closing of the transaction, DONG Energy and Siemens Project Ventures will reimburse Centrica for 50% of the development costs incurred to that date, which is estimated at about GBP50 million ($80.12 million). The transaction is expected to be completed in January 2010. Total investment in the project is expected to be approximately GBP750 million ($1,201.82 million), with Centrica's share being GBP375 million ($600.91 million). DONG Energy and Centrica will continue to own 50% of the company and will be the leading partner of the project.

Scope

Scope of the Report

The scope of the report includes –

The information related to the acquisition by DONG Energy and Siemens Project Ventures

A brief on companies DONG energy and Centrica

Comparison of deals in the wind sector

The rationale behind acquisition by DONG Energy and Siemens Project Ventures

Reasons to buy

Reasons to Buy

The Deal Report attempts to focus on the reason behind the acquisition by DONG Energy and Siemens Project Ventures. It will allow the reader to:

1.       Understand the reasons for the acquisition.

2.       Analyze similar acquisition opportunities in the region.

3.       Assists in understanding the Wind markets in UK.

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