logo
Share SHARE
FONT-SIZE Plus   Neg

Ventizz, HOCHTIEF Set Up JV For Offshore Wind Farms - Quick Facts

Ventizz Capital Partners and HOCHTIEF Solutions (HOCFF.PK) have set up a joint venture for the offshore wind farms development, with economic effect from February 1, 2012. The two partners, each holding a 50% interest in the company named HOCHTIEF Offshore Development Solutions S..r.l., are aiming to tap further earnings potential in the high-growth market for offshore wind energy. Plans include, for example, to buy and develop wind farm concessions and capitalize on the resulting value growth by selling them on before construction begins.

The new joint venture would concentrate on readying the subsequent construction of the wind farms in a way that significantly reduces the risk of cost overruns and delays. Thus, the joint venture would help advance the German government's target of 10,000 megawatts of installed capacity in the German offshore wind power market by 2020.

Following the project development closure, wind park concessions would be sold to the future operators such as energy suppliers and public utilities, financial investors and, in increasing numbers, large industrial companies, the company added.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
Follow RTT