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Denmark

Denmark

Dong completes Borkum Riffgrund I deal

DENMARK: Dong has finalised its 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 had acquired a 32% share in the 277MW offshore project. In addition to Kirkbi, Dong 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).

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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