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Blackstone plans two big German wind farms
8 August 2011: Blackstone plans to invest in two German wind farms, as the biggest economy in Europe will need the energy when it abandons nuclear power by 2022.
The company will finance 1.2 billion euros ($1.7 billion) to build the biggest German offshore facility to date. The fund added that it has also obtained permission for its Wind MW unit to develop a second site, putting its cost at 1.3 billion euros.
The first farm, with the capacity of 288 MW will comprise 80 turbines built by the German group Siemens, is expected to become operational in 2013.Requiring around 100,000 tonnes of steel in its construction phase, the park should provide electricity for 400,000 homes and reduce carbon dioxide emissions by one million tonne.
The second project, will consist of 63 turbines, and is expected to be finalised in 2013 and will be completed by 2016.
Source: Business Recorder