Denmark-based Dong Energy has agreed to sell its 50% stake in 258MW offshore wind farm project Burbo Bank Extension in the UK, for approximately £660m.

Danish pension provider PKA and Lego Group’s parent firm Kirkbi have signed an agreement to acquire the interest in the Burbo Bank Extension project, which will be developed by Dong.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Under the deal, each investor will own a 25% owner stake in the project.

Dong Energy CEO Henrik Poulsen said: "I am delighted to welcome the Lego Group and PKA to a new partnership with Dong Energy.

"Both (Lego Group and PKA) are already trusted partners in other Dong Energy offshore wind projects and we are proud to be able to build on these existing, successful partnerships."

"Both of them are already trusted partners in other Dong Energy offshore wind projects and we are proud to be able to build on these existing, successful partnerships."

Construction on the project is slated to begin in the spring of this year, and is expected to become fully operational in the first half of 2017.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The project will comprise of 32 turbines and is claimed to be the first large-scale wind farm to deploy the new MHI Vestas 8.0MW turbine.

Once operational, the wind farm will supply electricity to around 230,000 households per year.

As part of a long-term agreement, Dong will offer operation and maintenance services for the project.

The firm will also take responsibility for the sale and delivery of the electricity, which is generated by PKA and Kirkbi.

Lego Group president and CEO Jørgen Vig Knudstorp said: "This investment is another substantial step for the Lego Group towards balancing our global energy consumption with renewable energy capacity."