Blackstone fund to put €1 bln in German wind farms
AFP - [email protected]
Published: 10 Jul, 2008 CET.
Updated: Thu 10 Jul 2008 11:47 CET
The US investment fund Blackstone plans to invest more than €1 billion ($1.57 billion) in German offshore wind farms, a press report said on Thursday.
Germany wants to substantially develop offshore facilities because the country is approaching the limits of potential onland windfarms, the report in the Financial Times Deutschland said.
The government planned to develop 30 sites with a capacity of 25,000 megawatts in the Baltic and North seas by 2030, and had recently raised subsidies for wind-energy sources.
The report said that Blackstone intended to take stakes in the "Meerwind" (Seawind) park planned near Elgoland island in the North Sea.
"Blackstone's decision will certainly pull other investors in its wake," even though such funds have curtailed operations owing to the international financial crisis, Ralf Bischof, director of the German wind energy federation, told the paper.
Comments
See Also
Germany wants to substantially develop offshore facilities because the country is approaching the limits of potential onland windfarms, the report in the Financial Times Deutschland said.
The government planned to develop 30 sites with a capacity of 25,000 megawatts in the Baltic and North seas by 2030, and had recently raised subsidies for wind-energy sources.
The report said that Blackstone intended to take stakes in the "Meerwind" (Seawind) park planned near Elgoland island in the North Sea.
"Blackstone's decision will certainly pull other investors in its wake," even though such funds have curtailed operations owing to the international financial crisis, Ralf Bischof, director of the German wind energy federation, told the paper.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.