Finance / United States
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Blackstone Blown Away By US$1.6bn Wind Farm Project
July 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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US private equity giant Blackstone Group has, in partnership with German firm Windland Energieerzeugungs GmbH, agreed to undertake the development and construction of the US$1.6bn Meerwind wind farm project on the German coast. The project will comprise 80 wind turbines with a combined generation capacity of 400MW, enough to power half a million homes. The development represents an attempt by Blackstone to take full advantage of Germany's new regulatory and framework and incentive system for the development of alternative energy. When completed, the wind farm will generate approximately 1.6bn KWh annually.