DONG Energy A/S acquires Storrun Vindkraft AB
  by: OilOnline
  Friday, September 08, 2006

DONG Energy has signed a share purchase agreement under which DONG Energy will buy 100% of the shares in the project company Storrun Vindkraft AB. The project company holds rights for the construction of a 30 MW wind turbine project in Sweden. The project is located approx. 150 km north-west of Östersund in the Municipality of Krokom in Jämtland.

All official approvals and construction permits for the project are in place, but an optimisation of the project framework is needed before an investment decision can be taken in mid-2007. Commissioning of the project is expected at the end of 2008. The overall capital expenditure will be in the order of DKK 300 million.

The project company’s former owner was Borevind AB, a listed investment company within renewable energy. Borevind will retain an option to buy back 20% of the project company. In addition, Borevind will assist DONG Energy in the continued project design work.