Danish energy group DONG Energy has unveiled its 2015 results, posting a 6% increase in revenues (to DKK 70.8bn, i.e. €9.4bn) due to higher activity from construction contracts, higher wind power generation and sales of green certificates. This was partially offset by lower power, gas and oil prices and lower oil and gas production.
In 2015, wind power generation increased by 16% to 5.8 TWh (3.3 TWh in the United Kingdom and 2.2 TWh in Denmark), as the offshore wind capacity reached 3 GW (from 1.2 GW in 2011 and 2.5 GW in 2014). Thermal power generation continued to decline, by 18%, to 7.1 TWh (from 16 TWh in 2011 and 8.7 TWh in 2014). This shift to renewable power generation contributed to a 11% drop in the average CO2 emission per kWh generated, to 334 g/kWh in 2015, from 374 g/kWh in 2014 and 486 g/kWh in 2011 (-31% between 2011 and 2015). DONG Energy distributed 8.4 TWh of electricity in 2015 (stable from 2014) and 8.1 TWh of gas (-1.2%) and sold 35.5 TWh of electricity (+2.9%) and 159 TWh of gas (+5.1%).
The group produced 40.9 mboe of hydrocarbons in 2015 (-2.1%): oil production declined by 4.7% to 10.1 mboe, while gas production declined by 1.3% to 30.8 mboe. In 2015, the company increased its investments by more than 21% to DKK18.7bn (€2.5bn), after a 27% fall in 2013, investing mainly in new offshore wind projects.
The company is pursuing its plans to launch an IPO before the first quarter of 2017.
In addition, the group has announced that Westermost Rough (50% DONG Energy, 25% UK Green Investment Bank and 25% Marubeni) had signed an agreement for the sale of its transmission assets to TC Westermost Rough for DKK 1.5bn (€200m). The divestment takes place pursuant to the Offshore Transmission Owner (OFTO) regime. Following a competitive tender, TC Westermost Rough OFTO Limited was selected in May 2015 by Ofgem, the regulator for gas and electricity markets, as preferred bidder for the WMR offshore transmission license. The transmission assets connect the 210 MW Westermost Rough wind park, commissioned by DONG Energy in 2015.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.