Connecting...

Dong Energy Confirms Successful IPO

22 Jun 13:00 by Steve Walia

W1siziisijiwmtyvmdyvmjivmtivmjqvndkvnjy3lzmwodcxmjiyx20ucg5nil0swyjwiiwidgh1bwiilci4mdb4nduwiyjdxq

Dong Energy has floated its wind energy business this week and attracted over 36,000 new private and institutional investors as a result. Retail investors in the Danish offshore wind developer and utility were allocated around 10pc of the overall offer. The remaining 90pc was reserved for institutional investors in Denmark and overseas.

Dong is one of Europe's most rapidly growing energy businesses and already a global leader in offshore wind. It is currently developing Yorkshire's Hornsea Project One offshore wind farm. Once the development goes live in 2020, it will be the biggest offshore wind farm on a global scale, with 171 turbines generating sufficient clean power to meet the needs of over a million properties.

The company's CEO, Henrik Poulsen, said that he had been pleased with the favourable response from investors and the confidence they had shown in the company. He added that Dong planned to work hard to deliver its plans and meet shareholder expectations, as it continued its trajectory towards developing more sustainable systems of energy.

The chairman, Thomas Thune Andersen, said that he was privileged to welcome the new shareholder investors and saw the success of the flotation as a mark of how well Dong's employee base had performed to make the business into a world leader on the renewable energy stage. 

The Hornsea Project One development is expected to bring huge gains to the Yorkshire coast, not just in terms of new jobs created but also for supporting infrastructure development and the supply chain. Many businesses, from logistics firms to local accommodation providers, are expected to benefit from the investment in the area. The Yorkshire coast is rapidly becoming a hotspot for green energy development, and renewable energy developments such as these are offering the chance of sustainable regeneration.