NewEnergyNews: LEGO BUILDING OFFSHORE WIND

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    Friday, February 24, 2012

    LEGO BUILDING OFFSHORE WIND

    Lego buys into offshore wind energy
    James Quilter, 23 February 2012 (Windpower Monthly)

    "Lego-owner the Kirkbi Group has acquired a 32% share in the 277MW Borkum Riffgrund 1 offshore project from Dong Energy.. Dong has sold an additional 18% to the Oticon investment group. The move is part of Dong's strategy of selling off the 50% shares in its offshore projects. The total deal is worth DKK 4.7 billion (€633 million).

    "Borkum Riffgrund 1 consists of 77 3.6MW Siemens turbines. Under the deal, Dong has committed to completing the project by a fixed date and price. The two companies will begin receiving a return on their investment on 1 October 2015. Any income prior to that date will go to Dong."


    click to enlarge

    "The terms of the deal are similar to Dong's DKK6 billion (€804 million) deal with two pension funds - PensionDanmark and PKA - over the Anholt offshore project in March last year…[It is] part of the company's strategy to sell off parts of its developments in order to secure more funding for new projects…

    "This is not Lego's first involvement in the wind sector. The company is also a founder member of the WindMade trade standard for companies and brands who have invested in wind energy. The brand wants to 100% of its energy needs to come from renewables by 2020…to help enable future generations of children to grow up in a better world…"

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