ENERGA to take over part of DONG Energy assets
ENERGA Hydro and PGE Polska Grupa Energetyczna signed an agreement today with DONG Energy A/S to take over DONG’s wind farm portfolio in Poland.
As part of the transaction, ENERGA Group will take over an operating wind farm in Karcino in Zachodniopomorskie Province, with a capacity of 51 MW, and five projects in progress in northern Poland, with a total planned capacity of approx. 220 MW. Furthermore, part of the staff of DONG Energy A/S in Poland will be transferred to ENERGA Group, providing more opportunities for the development of renewable energy sources. PGE, on the other hand, will acquire operating wind farms with an installed capacity of 60.5 MW and a project package with a planned capacity of approx. 555 MW.
The entire deal will be worth around PLN 1bn.
The transaction is in line with the strategic objective of ENERGA Group, which is to operate environmentally friendly energy sources. ENERGA focuses on projects characterised by the lowest carbon dioxide emissions, aiming to reduce emission levels to 0.36 tonnes/MWh.
It is expected that the transactions will be completed within the next few months. Closing the deal will be conditional on approval by the Office of Competition and Consumer Protection. Morgan Stanley, an investment bank, is playing the role of transaction advisor for ENERGA Group in the asset acquisition process.