Wind turbines could soon supply most of the UK’s electricity, the boss of the country’s largest windfarm operator has said, as he confirmed plans to sell its oil and gas division. Dong Energy said the sale would underpin its plan to become a “global leader in renewables”, 44 years after the company was set up to exploit Denmark’s North Sea oilfields. The chief executive pointed to the tumbling cost of green energy as evidence that wind and solar could supplant fossil fuels quicker than expected. Dong Energy is the UK’s largest windfarm operator with stakes in planned or existing projects able to produce five gigawatts (5GW), more than the planned Hinkley Point C nuclear reactors. Poulsen said technological advances in the energy industry meant wind power could end up supplying more than half of the UK’s electricity demand.
Guardian 8th Nov 2016 read more »
Dong Energy has joined the crowded market of North Sea oil and gas sellers as it confirmed plans to offload its entire fossil fuels division, which could be worth more than £1.5bn. The Danish state-controlled company also revealed that the fall in the pound post-Brexit had delayed its plans to sell a 50pc stake in the Race Bank offshore wind farm that it is building off the coast of Norfolk. Dong has transformed itself in recent years from its roots as Denmark’s national oil and gas company to become the world’s leading offshore wind developer and now plans to focus almost entirely on wind. The majority of Dong’s oil and gas production is in the Norwegian North Sea but it also has assets West of Shetland, including a 20pc stake in the £3.5bn Laggan Tormore gas field, which started production earlier this year.
Telegraph 8th Nov 2016 read more »