Denmark based Lego Group is investing over $500 million in green energy over the next four years. The worlds’ third largest toy manufacturer owned by family investment firm Kirkbi A/S is famous for their iconic multi-colored, plastic building blocks. Lego Group was started in 1932 by Ole Kirk Christiansen, who was a carpenter in western Denmark. Upon losing his job, Christiansen started making wooden toys instead of furniture. After a fire broke out in his factory, he was forced to rebuild and decided to start out making miniature versions of houses and furniture he has worked on as a carpenter. He switched to plastic in 1947 and by 1949 had built over 200 plastic toys. Christiansen came up with “Lego” for a company name; lego is derived from the Danish words “leg godt” meaning “play well”.
The company will be purchasing a 32% stake in DONG Energy’s newest wind farm, Borkum Riffgrund 1. This wind farm is located 55 km off the north-west coast of Germany in the North Sea and will have a capacity of close to 300 MW. This is enough power to supply nearly 330,000 households annual power consumption, and best of all, it is carbon dioxide free energy. Construction on the project will begin in 2013 and will be ready to start producing by 2015. Lego and its parent company plan to have their investment in Borkum Riffgrund producing more energy than they will use up to and including 2020. Chief Executive of Kirkbi A/S, Soren Thorup Sorenson, stated that this is the first time that the firm has invested directly in alternative energy and it will undoubtedly provide a long term investment with reasonable return. This power will not be provided directly to the Lego manufacturing plants but instead be directed to the German power grid. Lego has manufacturing plants in Denmark, Mexico, The Czech Republic and Hungary.
Lego Company CEO Jorgen stated in a release on Lego’s website in mid-February, “One of our fundamental values is to enable future generations of children to grow up in a better world. We do that first and foremost through our play materials — but also by improving the safety of our employees, improving the energy efficiency of our production, and reducing the volume of waste. In the field of renewable energy our objective is an ambitious one — and I am very pleased at this time to be able to announce this investment. We’re on a journey, a never-ending journey — but the investment in renewable energy is a huge step in the right direction.”
Lego is just one of many companies that have a huge impact on our children and it is extremely exciting to see that they are putting forth a great effort to make this world a better place for our posterity.