Windreich Sells German Offshore Wind Project Worth $1.3 Billion

Windreich AG, a German offshore wind developer, agreed to sell a project planned for the North Sea that requires more than 1 billion euros ($1.3 billion) of investment to an unspecified private-equity firm.

Windreich was retained by the buyer to build and operate the 210-megawatt Deutsche Bucht venture, the Wolfschlugen-based company said today in a statement. The buyer is an “Anglo-Saxon financial investor,” it added, without elaborating.

The cost of the 42-turbine project 94 kilometers (58 miles) north of the island of Borkum includes foundations, cabling and substations, according to Windreich. The facility has a grid connection agreement and will use turbines made by Areva SA. (AREVA)

To contact the reporter responsible for this story: Sally Bakewell in London at Sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.