E.on to sell 80% of Roedsand II offshore wind farm to Danish SEAS-NVE

Nov 13, 2013 - German utility E.on (ETR:EOAN) said today it has agreed to sell an 80% stake in its 207 MW Roedsand II offshore wind farm to Danish rival SEAS-NVE for DKK 3.2 billion (EUR 429m/USD 577m).

E.on said the transaction is in line with its "less capital, more value" strategic approach, adding that it will keep a 20% stake and remain the operator of the site.

"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," CEO Klaus Schaefer said in a statement.

The Roedsand II farm, located in the Baltic Sea some 10 kilometres (6.2 miles) off the Lolland island, has the capacity to provide electricity to 200,000 homes.

(DKK 1 = EUR 0.134/ USD 0.180)

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