Danish utility and wind farm developer DONG Energy has signed an agreement with Britain’s Banks Renewables, in what would be its first move into distributing onshore wind in the UK, the company said on Tuesday. The 15-year order includes buying power from three onshore wind farms under development by Banks Renewables, a unit within UK land developer Banks Group, and reselling it on the UK’s power market. “This is the first time DONG will manage the production of onshore wind farms and the biggest PPA (Power Purchase Agreement), we’ve entered… We consider the order an important milestone,” a DONG Energy spokesman told Reuters.
DONG Energy declined to provide financial details about the order, which will enter into force when the wind farms in northeast England and Scotland have come online, due to be by early 2019. DONG Energy’s Distribution and Customer Solutions accounted for around 37 percent of the company’s 2016 core profit (EBITDA). (Reporting by Nikolaj Skydsgaard; Editing by Victoria Bryan)