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2008 | Blackstone Group Announces Partnership to Build and Manage 400MW Offshore Wind Farm in Germany
The Blackstone Group (NYSE: BX) today announced it has formed a partnership with Windland Energieerzeugungs GmbH, founded in 1990 by Joachim Falkenhagen, to complete the development and construction of Meerwind, one of the North
Sea’s largest wind farm projects. The project, which will be located 80 kilometres off the northern coast of Germany, will cost in excess of €1 billion to build.
The wind farm will comprise 80 wind turbines with a combined generation capacity of 400MW.
It is planned to source all technical expertise and substantially all materials from within Germany. Projects of this scale have been made possible by Germany’s comprehensive regulatory framework and incentive schemes for renewable power, as amended by German Parliament at the beginning of June, 2008.
The area management plan for the future wind farms in the North and East Sea was introduced by the German government on July 6, 2008. The project supports the German government’s stated objective of fighting global warming by
reduction of its greenhouse gas emissions by 40% by the year 2020. When completed, the wind farm will generate approximately 1.6 billion KWh annually. This would be sufficient to supply 500,000 households with electricity, thereby eliminating approximately 1.4 million tons of CO2 that would otherwise be produced from coal-fired power generation facilities.
Source : Communiqué Blakstone
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