Denmark

Denmark

Dong completes Borkum Riffgrund I deal

DENMARK: Dong has finalised the sale of a 50% stake in the 277MW Borkum Riffgrund I project to Lego-owner Kirkbi Group, and the Oticon Foundation, an investment company

In February, it was announced that the Kirkbi Group was to acquire a 32% share in the 277MW offshore project. In addition, Dong said it would sell an additional 18% to the Oticon investment group.

The move is part of Dong's strategy of selling 50% shares in the offshore projects it develops. The total deal is worth DKK 4.7 billion (€633 million).

Speaking about the deal, Lego Group CEO Jørgen Vig Knudstorp said: "One of our fundamental values is that we want to help enable future generations of children to grow up in a better world. We do that first and foremost through our play materials – but also by improving the safety of our employees, improving the energy efficiency of our production, and reducing the volume of waste."

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