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Both companies are leading wind farm developers.
Centrica Renewable Energy Ltd has agreed to sell 50% of its subsidiary Centrica Energy Renewable Investments Ltd to Dong Energy for £40m. This is the subsidiary set up to take forward work in the Irish Sea Zone, as part of The Crown Estate’s Round 3 offshore wind tendering process. It will now be renamed Celtic Array Ltd.
Centrica Energy managing director Mark Hanafin said: “Creating this joint venture with Dong Energy is a logical step that will combine both companies’ expertise and scale to help realise the full potential of the zone. The partnership forms part of our strategy to deliver value from our growing upstream business.”
Dong Energy acting CEO Carsten Krogsgaard Thomsen said: "This marks DONG Energy's second entry into a Round 3 project and Centrica is a natural partner for us as we already have a good working relationship with them from previous projects. The partnership also further cements our position as one of the leading players in the UK offshore wind market. It is a strategic addition to our long-term pipeline of projects which contributes to the industrialisation of the offshore wind business and bringing down costs."
The two companies already have around 1GW of offshore wind capacity installed or under construction in the UK. They hold joint interests in the Barrow and Lincs offshore wind farms.
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