News Release For Immediate Release Wednesday 23 December 2009 Page 1 of 3

AIRTRICITY ACQUISITION OF STAKE IN WALNEY OFFSHORE IN

Leading developer Airtricity, through its parent company SSE (Scottish and Southern Energy plc), has entered into an agreement with DONG Energy to acquire a 25.1% stake in the 367MW (megawatt) Walney offshore wind farm which is being built 14km west of the Isle of Walney off the Cumbrian coast in the Irish Sea. DONG Energy will retain a 74.9% stake.

To acquire the stake in Walney, Airtricity/SSE will pay to DONG Energy a total consideration of up to approx £39m of which approx £17m is subject to the operational performance of the wind farm. As a shareholder in the project, Airtricity/SSE will pay its pro rata share of the construction costs with payments being made when each phase of the For further information contact: wind farm is commissioned.

Jason Cooke Head of Communications Walney will be constructed in two phases, each totalling 183.6MW, with construction of the Airtricity first phase due to begin in the spring of 2010 and of the second phase in the spring of T: +353 (0) 1 655 6656 2011.The wind farm is therefore expected to enter commercial operation in two phases: M: +353 (0) 86 264 6710 E: [email protected] during the first half of 2011 and towards the end of 2011. DONG Energy will manage the

construction of the wind farm with Siemens supplying the wind turbines, the second phase

of which will feature a new 120 metre rotor.

The wind farm is expected to have an average load factor of around 43% and produce around 1,300 GWh (gigawatt hours) of electricity in a typical year. Under the UK government’s plans for its Renewables Obligation Scheme, this output will qualify for 2.0 Renewable Obligation Certificates per MWh. SSE and DONG Energy will market the output of the wind farm in proportion to their equity stakes.

Excluding the connection to the Great Britain electricity network, the cost of constructing Walney is expected to total just under £1 billion. The project will initially be funded by DONG Energy while Airtricity/SSE will contribute its 25.1% share of the capital cost of the project (just under £250m) in two stages, when each phase of the wind farm is commissioned.

News Release For Immediate Release Wednesday 23 December 2009 Page 2 of 3

DONG Energy will be the leading partner in the construction and operational phases of the development, and has provided Airtricity/SSE with financial guarantees relating to the final capital cost of the project and its timely completion.

The addition of a 25.1% stake in Walney takes Airtricity/SSE’s portfolio of onshore and offshore wind farms in operation, in construction or with consent for development in the UK and to over 2,100MW (excluding the consented 520MW Arklow Bank development opportunity in the Irish Sea).

DONG Energy has a leading position in offshore wind power, with many years of experience. It has a large portfolio of wind farms in operation and under construction and a significant project pipeline focused on Northern Europe, including the UK.

Earlier this month, Airtricity/SSE and DONG Energy announced an agreement to form a 50/50 joint venture to develop three offshore wind farms in the Dutch sector of the North Sea with a total capacity of just over 1,000MW.

Paul Dowling, Chief Executive of -based energy company Airtricity, said:

“This is an excellent agreement for Airtricity/SSE and for DONG Energy. DONG Energy is one of the world’s leading offshore wind farm developers with extensive construction and operational experience.

“SSE is already the UK and Ireland’s largest and most diverse generator of electricity from renewable sources, with over 2,200MW of renewable electricity generation capacity. In addition, Airtricity/SSE is a leading European renewables developer, with a portfolio of over 15,000MW of renewable energy projects in construction, with consent or in development. The potential for harnessing the energy of the wind in the Irish Sea is vast and the combination of the Walney and Greater Gabbard offshore wind farms in UK waters gives us a very good offshore wind construction portfolio for the next few years.

“Major offshore wind developments such as Walney benefit from a partnership approach which blends the skills and experience of each party and this agreement between Airtricity/SSE and DONG Energy does exactly that.”

News Release For Immediate Release Wednesday 23 December 2009 Page 3 of 3

Anders Eldrup, Chief Executive of DONG Energy, said:

“The partnership with Airtricity/SSE in the UK provides an opportunity for DONG Energy, through its reduced share in Walney, to diversify risks and at the same time utilise and further develop our offshore experience.

“The UK is one of the primary markets for DONG Energy’s wind development activities now and in the near future. We are, therefore, very delighted with the opportunity to team up with an experienced company like Airtricity/SSE.”

About Airtricity/SSE Airtricity’s renewable energy development division is responsible for the development and construction of SSE (Scottish and Southern Energy plc) Group’s renewable energy projects across Ireland, Great Britain, and Continental Europe, including offshore and onshore wind farms, hydro, marine, biomass, and solar projects.

Airtricity/SSE is currently developing two of Europe’s larger wind farms, a 350MW onshore wind farm, Clyde, located in the Upper Clyde Valley in Scotland and a 504MW offshore wind farm, Greater Gabbard, located off the Suffolk coast of England.

SSE is the leading generator of renewable energy in the UK and Ireland, with over 2,200MW of renewable electricity generation capacity (wind, hydro, and biomass), and a portfolio of over 15,000MW of renewable energy projects in construction, with consent or in development. Airtricity/SSE has a total of over 800MW of onshore and offshore wind farm capacity in Ireland in construction or with consent for development, and is actively progressing a significant pipeline. Airtricity’s renewable energy development division, which is headquartered in Dublin and operates in 17 locations across Ireland, Great Britain and Europe, is to be renamed SSE Renewables with effect from January 2010.

About DONG Energy DONG Energy is one of the leading energy groups in Northern Europe. DONG Energy is headquartered in Denmark. The company’s business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe. DONG Energy has approximately 6,000 employees and generated more than DKK 60 billion (approx. €8.2 billion) in revenue in 2008.

DONG Energy is a market leader in offshore wind power, having built around half of all offshore wind farms globally. The UK is one of DONG Energy’s primary markets for offshore wind. DONG Energy is the sole owner of the 90MW Burbo Bank and 50% owner of the 90MW Barrow project, both of which are in commercial operation in the East Irish Sea. The Gunfleet Sands I+II (total 172MW) commenced construction in early 2008 in the Thames Estuary and are scheduled for commercial operation by the end of 2009. On April 22nd 2009 DONG Energy announced it was to build the two wind farms Walney I and II in the Irish Sea. Further, DONG Energy has a substantial pipeline of offshore wind projects in the UK which are currently under planning and development. For more information, please visit www.dongenergy.com.