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Lego owners buy stake in German wind power project
February 23, 2012 / 8:56 AM / 6 years ago

Lego owners buy stake in German wind power project

COPENHAGEN, Feb 23 (Reuters) - The family holding company that controls Danish toymaker Lego has agreed to buy 32 percent of a German offshore wind energy project from Denmark’s DONG Energy for more than $500 million, DONG said on Thursday.

DONG Energy said that Lego Group’s parent company Kirkbi A/S would invest 3 billion Danish crowns ($534.14 million) for its stake in the 277-megawatt Borkum Riffgrund 1 wind farm scheduled to be fully operational in 2015.

In addition, the Oticon Foundation would invest 1.7 billion crowns to take an 18 percent stake in the project, DONG Energy said.

“When completed Borkum Riffgrund 1 will consist of 77 3.6 MW wind turbines from Siemens Wind Power,” DONG Energy A/S said in a statement. ($1 = 5.6166 Danish crowns) (Reporting by John Acher)

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