Iberdrola to build offshore wind farm in Germany
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.
(c) 2010 AFP