27 Feb '12, 7pm

Beyond Blocks: Lego's Parent Spends $530M on Offshore Wind

Beyond Blocks: Lego's Parent Spends $530M on Offshore Wind

The parent company of toy firm Lego has announced it will buy a 32 percent stake in one of Germany's largest offshore wind farms, in a move designed to bolster the firm's green credentials. Kirkbi A/S, the family firm that also holds a 75 percent stake in Lego, confirmed yesterday it will shell out 3 billion Danish krona ($534 million) to acquire almost a third of Dong Energy's 277-megawatt Borkum Riffgrund 1 wind farm, which is expected to be operational by 2015. According to the reports, the firm could also use its stake in the 77-turbine wind farm and access to the electricity it generates to carry a label on its popular toys, such as the recently launched WindMade certification , demonstrating that its products have been made using renewable energy. Lego said the investment would allow the company to single-handedly meet its target of ensuring 100 percent of its energy...

Full article: http://www.greenbiz.com/blog/2012/02/27/lego-parent-kirkb...

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