Blackstone Group Partners with German Power SupplierComments Off
The Blackstone Group, one of United States’ largest private equity and investment banking firms, recently teamed up with an alternative energy provider. Windland Energieerzeugungs GmbH, a Germany-based power supplier, and the Blackstone Group banded together for the planned construction of their latest project, the Meerwind Wind Farm.
The Meerwind facility is located 80 kilometers off the northern coast of Germany. Slated to be among the largest wind farms to date in the North Seas at its completion, the said project is estimated to cost over 1 million euros ($1.47 million). The proposed 80-turbine wind farm is expected to generate a total of 1.6 billion kilowatts per hour on a yearly basis. Such power will be able to provide energy for 500,000 households.
The environmental benefits are projected by the German government to be tremendous. The Meerwind Project is expected to reduce carbon dioxide emissions by 40% by the year 2020. Since the facility is wind-powered, an approximated amount of 1.4 million tons of carbon dioxide produced by coal-based power plants is eliminated.
This particular partnership with Windland Energieerzeugungs GmbH is actually Blackstone Group’s second investment in their renewable energy efforts. The Blackstone Group sees that investments on ‘green’ infrastructures, such as the Meerwind Wind Farm, have positive effects on the local economy of the local and surrounding areas. A fully-developed green power zone in the northern coast of Germany is very enticing for developers and investors.
Source: Blackstone Group Announces Partnership To Build And Manage 400MW Offshore Wind Farm In Germany .
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