Dong CEO denies that zero-subsidy bid marks a precedent

Dong Energy's zero-subsidy bid on three German offshore wind farms is not likely to be a recurring feature of future German tenders, states CEO Henrik Poulsen, adding that he anticipates a bright future in Germany.

Photo: Dong Energy

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

HitecVision closes first green transition fund

Nordic pension funds are among the investors in the first private equity fund targeting the green transition launched by Norway's largest private equity firm, which has been focusing on the offshore energy industry for more than 30 years.

Further reading

Related articles

Latest News

See all jobs