Swedish power company Vattenfall Group Thursday said it has entered a joint venture with Stadtwerke Munchen for the construction of an offshore wind farm in the North Sea.
Swedish power company Vattenfall Group Thursday said it has entered a
joint venture with Stadtwerke Munchen for the construction of an offshore wind
farm in the North Sea.
According to Vattenfall, the project is among the biggest in offshore wind
power, with a total investment of more than EUR1 billion.
Vattenfall holds 51% in the joint venture, called DanTysk Offshore Wind GmbH,
and Stadtwerke Munchen has 49%.
Vattenfall will be responsible for construction, which will commence in 2012. Located
roughly 70 kilometers west of the German
island
of
Sylt
, the
farm will produce enough electricity for 500,000 households, with a capacity of
288 megawatts and output of around 1,320 gigawatt hours.
The project has been approved by the relevant authorities, and completion is
expected around New Year 2013/2014.
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