Dong inks $840m wind farm deal

Building business: Lego owners take up share in Dong wind farm project as part of $840m deal

Denmark’s Dong Energy has signed up two investors to take a 50% share of a German offshore wind farm development in a $840 million deal.

The two investors, Kirkbi and the Oticon Foundation, will pay the Danish oil giant in instalments up to 2015 for the 32% and 18% respective stakes.

In 2015 the pair will take over the completed facility and their share of the earnings, with a 15-year operation and maintenance deal already inked.

The stake deal is expected to close in the second quarter subject to approval.

Dong Energy chief executive Anders Eldrup said the agreement was a major step forward for the player’s partnership financing model for offshore wind farms, which has seen the company…

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