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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.