EnBW freezes EUR 1.5bn investment in offshore wind farm

Nov 14, 2012 - German utility EnBW said on Wednesday it is freezing plans for EUR 1.5 billion (USD 1.9bn) investment in a 500 MW offshore wind farm due to uncertainties regarding the grid connection of such parks in Germany.

The company noted that it needs legal clarity as well as a reliable framework conditions when it comes to making important investment decisions.

Dutch Tennet, the power grid operator responsible for connecting offshore wind farms to the German grid, is expected to postpone the connection of EnBW's wind farm. Therefore, the EnBW Hohe See wind park, consisting of 80 wind turbines and located in the North Sea, is expected to be brought to operation in 2017 and not in 2015 as it was previously expected.

EnBW has been operating a wind farm, called Baltic 1, in the North Sea since 2011 and has already launched construction of a second one, called Baltic 2.

(EUR 1.0 = USD 1.275)

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