December 21, 2016 / 1:49 PM / 7 months ago

DONG Energy raises earnings forecast after wind farm stake sale

1 Min Read

COPENHAGEN, Dec 21 (Reuters) - Danish utility and wind farm developer DONG Energy raised its full-year earnings forecast on Wednesday and announced the sale of a stake in its UK offshore wind farm.

The company increased its forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) to 24-25 billion Danish crowns ($3.37-$3.51 billion) from 20-23 billion previously, and estimated gross investment would be in the lower end of a 18-21 billion range.

DONG said the profit from selling 50 percent of its Race Bank wind farm in Britain would amount to 1.6 billion pounds ($2 billion).

($1 = 7.1278 Danish crowns)

$1 = 0.8079 pounds Reporting by Nikolaj Skydsgaard; Editing by Mark Potter

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