On 22 March 2012, Danish state-controlled company DONG Energy announced a partnership with Centrica plc for the joint development of the 4.2 GW Irish Sea Zone in the UK. Licensed as part of the Crown Estate's Round 3, the Danish utility paid £40 million (€48 million) for a 50% stake in the project. Three months earlier, DONG Energy acquired 33% of two Hornsea Zone projects totaling 1 GW from SMart Wind, a partnership between Mainstream Renewable Power and Siemens Project Ventures. Key trends in this On Point include: DONG employs three-fold mitigation strategy to navigate risk in fledgling industry. DONG deploys R&D funds to lower LCOE, strengthen supplier partnerships. De-risking, equity partnering key to pipeline.
On 22 March 2012, Danish state-controlled company DONG Energy announced a partnership with Centrica plc for the joint development of the 4.2 GW Irish Sea Zone in the UK. Licensed as part of the Crown Estate's Round 3, the Danish utility paid £40 million (€48 million) for a 50% stake in the project. Three months earlier, DONG Energy acquired 33% of two Hornsea Zone projects totaling 1 GW from SMart Wind, a partnership between Mainstream Renewable Power and Siemens Project Ventures. Key trends in this On Point include: