Saturday, February 25, 2012

Lego, From Toys to Green Power

Lego owners splash $500 million on green power
Feb 23, 2012 - The family firm that controls Denmark's Lego is buying almost a third of a German offshore wind power project in an unusual foray outside the toy business to showcase its green credentials to customers.

Lego's parent company, Kirkbi A/S, will invest 3 billion crowns ($534 million) for a 32 percent stake in DONG Energy's 277-megawatt Borkum Riffgrund 1 wind farm, which is scheduled to be fully operational in 2015, the companies said.

For DONG, which has previously sold stakes in wind farms to institutional investors like pension insurance groups, the deal represents a key widening of its investor base to include corporate groups for the first time.

By investing in the project, Lego will be allowed to use a customer label certifying that it uses wind energy, Lego said. read more>>>

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