Blades turn on new Baltic wind park
Germany took another step forward in its Energiewende recently, as the largest wind park in the German Baltic coastline region, Baltic 2, was switched on. Greeted with a strong breeze, the 80 windmills lying north of the popular holiday island of Rügen are set to provide 288MW of energy per year, which should provide for some 340,000 households.
The wind park was built and conceptualised by German company ENBW, but Australia’s Macquarie was a key contributor to the project, purchasing a 49.89% share of it for €720m. The life cycle of the wind park is expected to be 20 years, around four or five years after the project investments will have been amortised.
“Projects like this, particularly those financed this way, show the confidence both in Germany’s energy sector and the anticipated healthy returns on investments from investing in German projects,” said Dr. Benno Bunse, CEO, Germany Trade & Invest, the country’s foreign direct investment advisory agency.
“Wind parks either already in operation, under construction or approved for construction have a 10GW capacity, enough for 10m German homes, a quarter of all private German homes. This would be a fantastic achievement and these projects are well worth investing in."
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