Lego, PKA Expand Offshore Wind Portfolios in Deal With Dong Energy

The parent of toymaker Lego boosted its investments in offshore wind, joining the Danish pension fund PKA A/S to buy half of an unbuilt 258-MW project in the U.K. from Dong Energy.

Kirkbi A/S and PKA agreed to pay about 660 million pounds ($956 million) and will each own 25 percent of the Burbo Bank Extension project, off the coast of Liverpool, U.K, according to a statement on Dong’s website.

The wind farm is due to be completed in 2017 and will be the first to use the 8-MW wind turbine produced by MHI Vestas Offshore Wind A/S.

The deal represents Kirkbi’s second offshore wind investment, after buying a stake in the Borkum Riffgrund 1 offshore wind farm in 2012. It’s PKA’s fifth offshore wind investment, as part of a strategy to divest from coal and increase investments in renewable energy.

“In the spring of 2015 we blacklisted 31 coal companies, which have since lost more than 60 percent of their value,” said Peter Damgaard, chief executive of PKA. ”In the same period, the return on our offshore wind farms has been more than 7 percent.”

Renewableenergyworld.com

Same Category

Energy efficiency and climate neutrality in Europe’s real estate sector: striving for sustainable building practices

05/11/2024

A high-renewables grid with faster transmission buildout can save $270 billion or more 04/11/2024
Advancing energy efficiency at UNDP Iran 04/11/2024
Nova Scotia puts almost $22 million toward energy efficient housing programs 02/11/2024
Canada Piloting New Ways to Make Homes More Energy-Efficient and Affordable 28/10/2024

Ireland's Public Sector avoided an estimated €2.5 billion in energy spend since 2009 28/10/2024

Public bodies and Government Departments are 32.5% more energy efficient than in 2009.
Canada helping food processing businesses lower costs 27/10/2024

Investments by the governments of Canada and Ontario through the Sustainable Canadian Agricultural Partnership (Sustainable CAP) are resulting in over $16 million worth of energy cost savings projects to help food processing businesses increase energy efficiency and lower their costs.
Reaching 45% solar generation would save US Southeast utilities $20 billion/year 27/10/2024

Annual savings of $20 billion are possible across six Southeastern states by reaching 45% solar generation by 2035, according to a national laboratory study.
Thailand's largest cement producer commits $6.3 billion to green transition 26/10/2024

Thailand's largest cement producer, Siam Cement Group (SCG), plans to invest THB 200 billion (about 6.3 billion USD) over the next five years to enhance the competitiveness of its subsidiaries, SCG Chemicals and SCG Cleanergy, in order to assist the parent company in accelerating emission reductions.
Camden launches scheme to help local businesses save energy 25/10/2024

Camden council (UK) will be offering free support to nearly 125 local businesses for reducing energy consumption, cutting costs and lowering carbon emissions.
Demand-side actions could help construction sector deliver on net-zero targets 25/10/2024

Using state-of-the-art energy efficiency technologies to renovate existing properties and construct new ones could enable Europe's construction sector to almost eliminate its carbon emissions by 2060, a new study suggests.
UNECE helps Moldova move towards more energy efficient building sector 24/10/2024

The building sector in Moldova, consuming 53% of the nation’s energy, is dominated by aging structures lacking modern efficiency measures. At the International Forum in Chisinau, experts explored innovative solutions to retrofit these buildings and promote energy efficiency, driving Moldova toward a more sustainable future.
WA Gov boosting local energy efficiency 24/10/2024

The Western Australian Government is investing $500,000 in a sustainability and climate action initiative that aims to help households and small businesses improve their energy efficiency and save money on energy bills.