Denmark: Germany's E.ON sells 80 percent stake in Baltic wind farm to Denmark's SEAS-NVE

Offshore windpark

Germany's biggest utility group, is selling an 80-percent stake in its Roedsand II offshore wind farm to Danish consumer-owned energy group SEAS-NVE for 3.2 billion Danish crowns (euro 430 million).


E.ON, which earlier on Wednesday posted a 19-percent decline in nine-month core profit, said it would retain a 20 percent stake and remain its operator and plans to use the cash to finance other renewable energy projects.

"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 realize more of our excellent renewables pipeline," Chief Financial Officer Klaus Schaefer said in a statement.

The 207 megawatt (MW) Roedsand II array of wind turbines is located in the Baltic Sea between the German island of Fehmarn and the Danish island of Lolland and produces power for around 200,000 households.

Read more: E.ON sells 80 percent stake in Baltic wind farm to Denmark's SEAS-NVE | Reuters