Dong Steps up Wind Investment

11 August 2009 (Last Updated August 11th, 2009 18:30)

Denmark’s Dong Energy massively increased wind power investment in the first half of 2009 to DKK 8.5bn, compared to DKK 2.79bn in 2008. However, it plans to cut back spending next year. The 2009 investment includes DKK 3.33bn for wind power development, made up of DKK 0.7bn for acquiri

Denmark’s Dong Energy massively increased wind power investment in the first half of 2009 to DKK 8.5bn, compared to DKK 2.79bn in 2008. However, it plans to cut back spending next year.

The 2009 investment includes DKK 3.33bn for wind power development, made up of DKK 0.7bn for acquiring A2SEA, and DKK 0.92bn and DKK 0.91bn for two offshore wind farms: Horns Rev 2 and Gunfleet Sands.

Total investments this year are projected to amount to DKK 20bn on par with earlier projections but the economic downturn has meant 2010 and 2011 investments are projected at DKK 15 to 20bn per year – a drop from the proposed DKK 20bn.

Dong Energy CEO Anders Eldrup said the firm expects a 70% hike in gas generation this year and will commission five new wind farms in the next few months.

Dong gave the green signal for the Walney II wind farm located in the Irish Sea in the first half of the year, following on from Walney I, for which planning has finished.

The combined investment in Walney I and II is estimated to be DKK 9.7bn and together they feature 367MW capacity and 102 turbines.

Scheduled completion dates for the two wind farms are 2011 and 2012.

Dong, in collaboration with its partners has also given the green light for a 630MW London Array project, expected to be operational in 2012.