Two weeks ago, Dong Energy took the market for a ride. In a German offshore wind tender, the Danish utility placed a bid with zero subsidies – meaning a bid in which Dong would only receive the price of the electricity – for the two projects OWP West and Borkum Riffgrund West 2. This astonished observers as it reflected both a continued plunge in the price of offshore wind and also instigated fears in the market concerning Dong's business model.
But the market should not expect the German zero-subsidy bid to mark a precedent, confirmed Dong Energy's CEO, Henrik Poulsen, in a call to investors Thursday.
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