06 Aug '11, 6am

Blackstone Private Equity Firm Invests in German Offshore Wind…In a Big Way

Blackstone Private Equity Firm Invests in German Offshore Wind…In a Big Way

Blackstone, the US private equity firm, is investing in German offshore wind power, and in a big way. The company announced that majority-owned WindMW had secured 822 million euros (~USD1.18 billion) in financing from a group of seven commercial lenders for the Meerwind wind farm 50 kilometers off Heligoland in the North Sea. Blackstone fund affiliates will invest nearly all the equity capital to fully fund the Meerwind project’s 1.2 billion euro (~USD1.7 billion) total investment cost. The Meerwind project, Blackstone’s largest renewable energy investment to date, is actually made up of two wind farms: Meerwind East and Meerwind West. It entails erecting 80 wind turbines with a capacity of 288 MW and connecting them to Germany’s mainland grid. That’s enough electricity to supply some 400,000 homes and avoid some 1 million tons of carbon emissions, according to the company...

Full article: http://cleantechnica.com/2011/08/06/blackstone-private-eq...

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