DONG Energy has bought a 50% stake in a gas-fired power station project in the Netherlands. The other partner in the project is Eneco B.V. (Eneco), the third largest power and gas provider in the Netherlands. In connection with DONG Energy's investment in Enecogen, International Power withdraws as partner in the project after mutual agreement.

The power station will be built at the Port of Rotterdam and is to have a capacity of approximately 870 MW. Enecogen has entered into a contract with Siemens for the construction of the power station, which is expected to be commissioned before the end of 2011. DONG Energy's investment in Enecogen is approximately DKK 2.5 billion (buy of share included).

DONG Energy is currently constructing two gas-fired power stations in Norway (Mongstad) and Wales (Severn), respectively, whereby Enecogen will be DONG Energy's third gas-fired power station project outside Denmark.

The content of this announcement does not alter the previously announced expectations for the financial result for 2009 or the announced expected level of investments.

Tags: DONG Energy