Denmark’s PKA has joined the Lego Group’s parent company to take a stake in a Dong Energy wind farm scheme.

Dong Energy is selling 50% of the 258 MW UK offshore wind farm project.

PKA joined Kirkbi, parent company of the Lego Group, in the deal where each investor has taken a 25% interest in the project, which Dong will build.

The total purchase price for the investors is approximately £660m (€850m).

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

PKA’s first investment in a wind farm was Anholt offshore wind farm in 2011 – also with Dong Energy.

The fund has now invested three times with Dong Energy.

“PKA has invested in five offshore wind farms,” he said. “Together, they will provide renewable energy to about 2m households.”

Construction of the latest scheme will start this spring, with the project expected to be fully commissioned in the first half of next year.

The farm will include 32 turbines and be the first large-scale wind farm to deploy new MHI Vestas 8 MW turbines.

When completed, the farm will provide energy to 230,000 households.

For Kirkbi, which holds 75% of Lego, the investment in Burbo Bank Extension is its second major long-term investment in renewables. 

In 2012, the company invested in the Borkum Riffgrund 1 offshore wind farm.