Dong Not Selling Wind Business

Dong Energy has denied recent suggestions of selling its offshore wind turbine division prior to an initial public offering.

“It has been important for us to maintain our wind strategy,” said Chief Financial Officer Marianne Wiinholt.

According to Bloomberg, Dong had plans to spin off the wind unit which later came to be unnecessary as Danish government allowed the company to take on Goldman funding.

Goldman acquired 18 per cent stake in Dong for about USD 1.5 billion still leaving the Danish state with 59 per cent.

“We got the capital injection instead as we decided it was a better solution to get the capital on the top level.”

“That was more effective from a capital structure point of view, and also easier from a governance perspective,” added Wiinholt.