Kirkbi, the holding firm which owns 75 % of the Lego Group, has reached an settlement to purchase a majority stake in Enerparc Inc., a U.S. affiliate of German photo voltaic developer Enerparc AG.

In an announcement on the finish of final week, Kirkbi mentioned that the acquisition represented a “vital improvement” within the agency’s long-term funding technique for renewables. The worth of the transaction has not been disclosed.

Enerparc Inc. was established in 2012 and develops, engineers, builds and operates distributed utility scale photo voltaic photovoltaic tasks. Photovoltaic refers to a means of straight changing mild from the solar into electrical energy.

“The numerous majority stake in Enerparc Inc. provides Kirkbi a singular alternative to take possession in an organization that has established an operational, business and scalable platform to convey solar energy to many extra People,” Kirkbi’s chief funding officer, Thomas Lau Schleicher, mentioned in a press release Friday.

In response to Kirkbi, its investments in renewables are made to help the Lego Group’s intention of manufacturing sufficient renewable vitality to fulfill all of its vitality consumption. It has additionally invested in each the Borkum Riffgrund 1 and Burbo Financial institution Extension offshore wind farms.

In March 2018, Lego introduced it could make a few of its items from sustainable, plant-based plastic. Additionally it is a member of the RE100, a world initiative made up of a few of the world’s largest firms, all dedicated to renewable energy. Different members of the RE100 embody Goldman Sachs, Lyft and Apple.

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