Spanish renewable energy group Iberdrola Renovables announced Monday it will build an offshore wind farm in the Baltic Sea in Germany.
The company has bought the rights to the installation from a joint venture formed by Deutsche Erneuerbare Energien, a subsidiary of Deutsche Bank, and Germany's Ventotec, it said in a statement. It did not reveal the price.
The wind farm will have 80 turbines for a total output capacity of 400 megawatts.
Iberdrola Renovables, a subsidiary of Spanish power group Iberdrola, said it expects to invest 9.0 billion euros (12 billion dollars) by 2012 in a programme of international expansion, notably in the United States, Britain and Spain.
Germany is the second largest producer of electricity from wind farms after the United States and ahead of China and Spain, according to a 2009 report by the Global Wind Energy Council.
Explore further: Converting olive mash into cash