E.ON to sell 80% stake in Roedsand II offshore wind farm to SEAS-NVE for $577 mn

German energy giant E.ON has agreed to sell 80 per cent stake in its Roedsand II offshore wind farm to Danish consumer-owned energy group SEAS-NVE, for 3.2 billion Danish crowns ($577 million).

E.ON, Europe's largest privately-owned provider of energy services, said the transaction valued the 207-megawatt wind farm at 3.5 billion Danish crowns on a 100 per cent enterprise basis.

E.ON will retain a 20 per cent stake and will remain the operator for the remaining lifetime of the wind farm.

Situated in the Baltic Sea between the German island of Fehmarn and the Danish island of Lolland, Rödsand II offshore wind farm produces enough clean, renewable energy for around 200,000 homes.

With the site, SEAS-NVE acquires a highly efficient project in a very attractive market environment.

''For E.ON, the sale of a majority stake in one of our largest offshore wind farms will successfully recycle our capital, ensuring we are able to realise more of our excellent renewables pipeline. We are pleased to have entered into an agreement with SEAS-NVE, Denmark's largest consumer-owned energy company, which has now gained a share of a world-class renewable asset situated in its supply area,'' said, Klaus Schäfer, E.ON's CFO.

Jesper Hjulmand, CEO of SEAS-NVE, said, ''This is a historic deal for SEAS-NVE. The Rödsand II wind farm is a very visible asset and a clear message about our role in the Danish transition towards sustainable energy.''