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)

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