Energy company RWE AG said Friday it would invest euro2.8 billion ($3.9 billion) to build a wind farm off the German North Sea island of Juist.
Essen-based RWE said it had acquired the project company ENOVA
Energieanlagen, part of the Bunderhee-based ENOVA, a company
specialized in wind energy.
RWE said the wind farm, Nordsee 1, would have a capacity of 960
megawatts. The company expects approvals in 2009 and to start building
in 2010. The first turbines should start running in 2011. The company
said the capacity would be enough to supply electricity to 780,000
“That is the largest single project RWE has undertaken so far in the
area of renewables,” Juergen Grossman, the chief executive of RWE, said
in a statement.
“Even in these times of economic crisis, RWE Innogy is consciously stepping up its investment pace.”
Shares of RWE were trading down 1 percent at euro63.29 ($89.23) in Frankfurt morning trading.