Greece - DONG Energy sells its wind power activities in Greece

DONG Energy and Mytilineos Holdings S.A. have entered into an agreement on the acquisition by a company within the Mytilineos Group of DONG Energy's Greek wind power activities for a price of EUR 28 million (DKK 209 mio.)

The wind farms, with a total capacity of 18.6 MW, became part of DONG Energy in connection with the merger of DONG, Energi E2, Elsam, Nesa, Frederiksberg

Forsyning and Københavns Energi's power activities in 2006. With the company's strategic focus on selected geographical areas it is natural to sell off the companies Greek activities.

"We are satisfied with the outcome of this sales process whereby we have fulfilled our financial and strategic objectives and shown our commitment to focusing and strengthening our activities related to our principal markets,” says Anders Eldrup, CEO of DONG Energy.

The sale of the Greek wind power activities (the companies Energi E2 Aioliki S.A. and Energi E2 Aiolika Parka Karystias LLC owned by Energi E2 Renewables A/S) is expected to be completed in the second half of 2008 and result in an accounting gain after tax of approximately DKK 50 million, that will be recognised in the income statement for 2008.