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.