Dong sells 50% of Borkum Riffgrund 1 wind farm for $841m

Denmark’s Dong Energy has sold a 50% stake in its German offshore wind project Borkum Riffgrund 1 in a deal worth DKr4.7bn ($841m).

The buyers are Kirkbi – parent company of the Lego Group – and the Oticon Foundation.

Kirkbi is taking 32% of the 277MW project, with the Oticon Foundation purchasing the other 18% via its investment arm, William Demant Invest.

The two investors will pay for their stakes in four instalments, starting at the end of this year and with a final payment at the end of 2015.

Dong has committed to building the German North Sea wind farm at a fixed price and by a fixed date.

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