08 Aug '11, 10am

Germany enjoys surge in offshore wind investment

One of the world's largest private equity firms and one of its largest infrastructure banks have announced plans to plough billions of Euros into Germany's fast-expanding offshore wind sector, after the government last week announced offshore wind farms will play a central role in its plans to phase out the use of nuclear power plants. US private equity group Blackstone announced on Friday it would invest a total of €2.5bn in the planned Meerwind and Noerdlicher Grund wind farms as it seeks to bolster its presence in the European renewable energy market. FURTHER READING Should taxpayers bear shared offshore wind grid risk? Germany confirms plan to ditch nuclear by 2022 The company said its majority-owned project development firm WindMW GmbH had successfully completed the financing for the 288MW Meerwind project, making it the first German wind farm to be fully financed by ...

Full article: http://www.businessgreen.com/bg/news/2100019/germany-enjo...

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