Danish Energy Co. Plunks Down €157M For German Wind Farms

Law360, New York (August 14, 2012, 8:43 PM EDT) -- Danish government-controlled DONG Energy will pay €157 million ($194 million) to take three offshore wind development projects off the hands of Germany's PNE Wind AG, bolstering DONG's effort to capture part of the world-beating German wind power market, the buyer announced Tuesday.

DONG will pay €57 million up front for Gode Wind 1, 2 and 3, which have a combined generating capacity of 900 megawatts and are located in the German North Sea, according to the Danish energy group. PNE Wind can then collect up to...
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